Gold explorer and developer O3 Mining has sold its Louvem property, in Val-d’Or, Quebec, to Eldorado Gold for C$80 000 and the retention of a 0.5% net smelter return (NSR) royalty.
Eldorado has the right to repurchase 50% of the Louvem NSR from O3 Mining at any time following the closing of the agreement for an immediate payment of C$250 000.
O3 Mining originally acquired the property from Monarch Gold in 2020.