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Canada's Morien Resources sells noncore US landholding for C$935,000

Morien Resources Corp. received C$935,000 after subsidiary Advanced Primary Minerals USA Corp. completed the sale of its remaining noncore landholding in Hancock County, Ga.

The asset was inherited from Morien's predecessor company, according to a Sept. 3 release.

Morien said it has sufficient noncapital losses carried forward within Advanced Primary to offset the capital gain from the sale, which increased Morien's working capital position to about C$3.5 million.

Morien's remaining assets include royalties on the Donkin coal mine and the Black Point aggregate project, both located in Nova Scotia.