01:07 PM EDT, 10/16/2025 (MT Newswires) -- Itafos ( ITFS ) down 3.8% on last look, said Thursday it partially monetized its stake in ASX-listed St George Mining, which it acquired when it sold its Araxa project in Brazil earlier this year.

Itafos ( ITFS ) sold 277.9-million shares of St George for US$18.3 million. The company will also exercise 86.1-million options at AUD$0.04 per share. Together with the initial US$10-million payment received last February for Araxa, Itafos ( ITFS ) has now received US$$28.3 million from St. George.

A further US$11 million is also payable in two instalments, the first, of US$6 million, is due next month.

"The partial monetization of the ownership interest in St George that we acquired from the divestiture of our Araxa rare earth project earlier this year is another indication of our intentions to deliver long-term value to our shareholders by focusing on our core businesses. The equity interest in St George that we received as a portion of the total consideration for the sale of Araxa had appreciated significantly since the sale closing date as St George has been able to de-risk and advance the development of the project," said Itafos ( ITFS ) chief executive David Delaney.

Itafos ( ITFS ) shares are down $0.12 to $2.97 on the TSX Venture Exchange.

Price: 2.97, Change: -0.12, Percent Change: -3.88