TORONTO — Barrick Gold Corp. says it has sold its 8.5 per cent stake in Perpetua Resources Corp.

The gold miner says it sold the 5,382,587 common shares in Perpetua through the facilities of the Nasdaq, Cboe, Direct Edge and NYSE-ARCA.

Barrick says its gross cash proceeds totalled about $21.7 million or $4.04 per share.

Idaho-based Perpetua is developing the Stibnite gold project.

Barrick says it sold the shares for "investment portfolio management purposes."

It says that following the sale it no longer has beneficial ownership of, or control or direction over, any shares in Perpetua.

This report by The Canadian Press was first published June 7, 2022.

Companies in this story: (TSX:ABX, TSX:PPTA)

© 2022 The Canadian Press. All rights reserved., source Canadian Press DataFile