ASF Group (ASX:AFA) has sold 60 million shares in copper-gold explorer ActivEX (ASX:AIV) to Great Scheme Investments at a price of $0.0175 each, or a 52% premium on the net book value of its investment cost.
The proceeds of about $1.05 million will be used as working capital for the company.
Following the sale, ASF will retain a 16.1% interest, or 81,576,314 shares, in ActivEX.
ActivEX has a portfolio of exploration projects focused on copper and gold across Queensland and one advanced potash project in Western Australia.
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