Endeavour Silver grants options to purchase Guadalupe y calvo
Published by Jessica Casey,
Editor
Global Mining Review,
Endeavour Silver Corp. has granted an option to purchase a 100% interest in its Guadalupe y Calvo gold-silver exploration project in Chihuahua, Mexico to Ridgestone Mining Inc.
Under the terms of the option agreement, Ridgestone has the right to acquire a 100% interest in the project through payments over a 4-year period of US$1.5 million in cash and US$1.75 million in shares based on the 20 day volume weighted average price of the shares preceding each issuance, plus US$0.75 million in exploration expenditures, for a total commitment of US$4 million.
Ridgestone will grant a 2% net smelter return royalty (NSR) to Endeavour, with the option to buy back the 2% NSR for US$2 million prior to the commencement of commercial production.
Read the article online at: https://www.globalminingreview.com/finance-business/01022021/endeavour-silver-grants-options-to-purchase-guadalupe-y-calvo/
You might also like
Metso invests in new screen manufacturing centre in Romania
Metso is expanding its stationary screen production footprint by establishing a new manufacturing centre in Oradea, Romania, increasing capacity and enhancing customer proximity and service capabilities.
