Tsodilo, Sandstorm enter into $1.5m royalty agreement
JOHANNESBURG (miningweekly.com) – TSX-V-listed Tsodilo Resources and dual-listed gold royalty company Sandstorm Gold have entered into a $1.5-million royalty agreement on three projects.
The royalty sale includes the grant of a 1% net smelter royalty (NSR) on Tsodilo’s wholly owned Botswana subsidiary Gcwihaba Resources’ prospecting metal licences in north-west Botswana and a 1% NSR on the company's 70%-owned South African subsidiary Idada’s gold and silver prospecting licence in Mpumalanga.
It also includes the grant of a 1% gross production royalty on the company's wholly owned subsidiary Bosoto’s precious stone prospecting licence in the Orapa kimberlite field in Botswana.
“The agreements represent an attractive source of funding for Tsodilo, allowing us to fund our exploration activities while still giving shareholders full upside exposure to our projects,” said Tsodilo chairperson and CEO James Bruchs.
Sandstorm has the right of first refusal with respect to any third-party bona fide offers to buy a metal or precious stone royalty on the properties.
Tsodilo plans to use the proceeds from the royalty sale for exploration and general corporate purposes.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation