VVC Exploration Corp. (TSXV:VVC) plans to take a $1.8-million impairment loss on its investment in Canadian Antimony Mine Inc. for the nine-month period ended Oct. 31 in the wake of CAMI's move to sell most of its assets.

VVC said Tuesday that privately-held CAMI recently sold all the shares of Beaver Brook Antimony Mines Inc. in Newfoundland, representing substantially all its assets, to a third party.

VVC, which held 10 per cent of the preferred shares of CAMI, has so far received $418,600 from the transaction and is expecting an additional $27,100, the company said in a news release.

"As CAMI will, in effect, become an inactive company, VVC intends to sell all of the shares of CAMI to a third party for $1," it said.

VVC will write-down the value of its investment in CAMI to reflect the effects of this transaction.

Since 2007, when VVC started selling BBAM shares, it has received an aggregate amount of over $3.9 million, the company noted.

Toronto-based VVC is a minerals exploration company with projects in both Mexico and Canada, including a grass-roots gold prospect in the Timmins area of northern Ontario.

VVC shares were down half a cent at 29.5 cents Tuesday on the Toronto Stock Exchange.