Skip to main content

Monarques acquires another royalty on Chimo property

Published by , Assistant Editor
Global Mining Review,


Monarques Gold Corp. (Monarques) has acquired a 2% net smelter royalty (NSR) on the Chimo-Boyd claims in exchange for the issuance of 170 000 common shares of Monarques at a price of CAN$0.28 per share and a cash payment of CAN$8400. On 10 September 2018, Monarques announced the sale of its remaining interest in the Chimo property (including the Chimo-Boyd claims) to Chalice Gold Mines Ltd.

"With this transaction, we now hold a 2.5% NSR on almost all of the 73 claims forming the Chimo property, with the exception of a few claims for which we hold a 0.5% NSR," said Jean-Marc Lacoste, President and CEO of Monarques. "If the property were ever to go into production, we would be able to reap the benefits of this investment at a more than reasonable cost."

The common shares issued pursuant to this transaction are subject to a statutory hold period of four months and one day from the issuance of the shares.

Read the article online at: https://www.globalminingreview.com/finance-business/08102018/monarques-acquires-another-royalty-on-chimo-property/

You might also like

EMI

Electrification in Mining virtual conference

Join us on 16 April 2024 for Global Mining Review's first Electrification in Mining event is an interactive virtual conference, focusing on electrification as the future of sustainable mining and exploring the innovative approaches and technologies being developed to facilitate its implementation.

Register for FREE »

 
 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Canadian mining news