07:21 AM EDT, 03/16/2026 (MT Newswires) -- Perseus Mining ( PMNXF ) over the weekend said it signed a Share Purchase Agreement (SPA) to sell its 70% group interest in the Meyas Sand Project (MSGP) located in Sudan to Hong Kong Matrix Golden Fortune Mining Limited, a wholly owned unit of Matrix Resources (Zhejiang) Co., Ltd., for a cash consideration of US$260 million.

The company said the purchase price comprises a US$10 million deposit received on signing of the SPA and US$250 million payable on completion of the deal which is to occur on April 22, 2026.

"Perseus has formed the view that divestment of the MSGP is the best option for Perseus at this time," said the company in a statement. "Proceeds will further strengthen Perseus superior balance sheet along with consideration of additional capital returns to shareholders."

Shares of the company closed down 4.25% to $4.94 on Friday on the Toronto Stock Exchange.