They've went from 100% owning those tenements so owning perhaps 30% of the buying company.
As is rightly pointed out by @Sherlock Buffet, EMR had already indicated a desire to offload (divest) those tenements. I can't recall the relative geography but likely too far away to allow a plant to service it and the dingo range prospects, and not viable on their own.
So I guess getting rid to another company who will see value in them as they have existing tenements in that area, and yet doing so in a way that means a possible return on investment isn't the worst decision. Although as we all know the sharholding is only worth something if either GHML is successful in getting gold out of the ground, or they sell on to a someone else who is. In the meantime they will require on-going funding, which EMR as the largest shareholder, will be contributing too.
EMR Price at posting:
$3.76 Sentiment: None Disclosure: Held
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