Monarques acquires another royalty on Chimo property
Published by Claire Cuddihy,
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
Ready to revolutionise the cement industry?
Join our sister publication, World Cement, in Lisbon, 10 – 13 March 2024, for their first in-person conference and exhibition: EnviroTech.
This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.
Sandvik wins major order from LKAB for automated loaders
Sandvik has received a major order from the Swedish mining company LKAB to supply automated loaders for use at the Kiruna mine in northern Sweden.