12:05 PM EDT, 10/02/2024 (MT Newswires) -- Blue Moon Metals ( BMOOF ) said Wednesday that it agreed to sell its Yava silver project in Nunavut to Honey Badger Silver ( HBEIF ) .

Under the terms, Blue Moon will receive 4,25-million shares of Honey Badger with an implied value of about $340,000, representing 6.5% of the total issued and outstanding shares of Honey Badger.

"The Yava project is considered non-core for the company, so we are happy to monetize the asset and continue to focus on developing our Blue Moon deposit in the U.S.," Blue Moon CEO Patrick McGrath said. "We are currently evaluating the next steps for Blue Moon including the commencing of a preliminary economic assessment."

Blue Moon shares were last seen up $0.015 to $0.315 on the TSX Venture Exchange.

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