TSX-V approves Seagull Lake JV
The Toronto Venture Exchange (TSX-V) has approved a transaction in which Quadro Resources obtained an option to acquire a 70% interest in the platinum/palladium prospective Seagull Lake property from fellow-listed White Metal Resources.
The project, which covers 7 539 ha, is located about 50 km south of Impala Canada's Lac des Iles mine, previously North American Palladium, and is about 28 km north of the copper, nickel, and platinum group element discoveries of Rio Tinto and Panoramic Resources.
The terms of the option agreement state Quadro will earn a 70% interest in the property over a three-year period, alongside cash payments totalling $275 000 over this period.
During this time, Quadro will be issuing a total of 6.5-million shares, and $1.5-million will be spent on exploration on the property.
The combination of cash payments and share issuances comprise a total value of about $990 000, and after vesting a 70% interest, a joint venture is formed on the basis of 70:30 expenditures with the issuance of a 0.5% net smelter return royalty upon dilution to less than 10%.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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