Imperial Metals selling 70 per cent stake in B.C.'s Red Chris mine to Newcrest

VANCOUVER — Shares in Imperial Metals Corp. soared in early trading after the company announced a deal to sell a 70 per cent interest in its Red Chris copper and gold mine in B.C. to Australia’s Newcrest Mining Ltd. for $806.5 million US in cash.
Imperial shares were up $1.37 or about 69 per cent at $3.35 in early trading on the Toronto Stock Exchange.
Imperial president Brian Kynoch said in a statement that the deal allows the company to strengthen its balance sheet while forging a