- EMX Royalty Corporation (EMX) has executed an exploration and option agreement for two projects in Norway with Minco Silver Corporation (MSV)
- The agreement will make available to EMX cash payments and work commitments during a one-year option period
- The combination of base, battery and precious metals make this an especially compelling portfolio of projects
- EMX is a precious, base and battery metals royalty company
- EMX Royalty Corporation opened trading at $2.45 per share
EMX Royalty Corporation (EMX) has executed an exploration and option agreement for two projects in Norway with Minco Silver Corporation (MSV).
The agreement will make available to EMX cash payments and work commitments during a one-year option period.
In addition, when an option on either project is excercised, EMX will receive equity stakes in Minco, additional work commitments, advance royalty payments, milestone payments and a 2.5 per cent NSR royalty.
The two projects optioned to Minco are the Sagvoll and Sulitjelma polymetallic projects in Norway.
The Sagvoll project hosts both volcanogenic massive sulfide (VMS) styles of mineralization and magmatic sulfide nickel-copper mineralization, and the Sulitjelma project is past producer of VMS polymetallic mineralization.
The combination of base, battery and precious metals make this an especially compelling portfolio of projects.
Minco is a well-capitalized, Canadian publicly traded company that will work closely with EMX to advance the projects through the option period.
EMX will also receive milestone payments of $250,000 on each retained project upon completion of a preliminary economic assessment and upon completion of a positive feasibility study.
These milestone payments can be made in cash or in shares of Minco. Minco can also purchase 0.5 per cent of any NSR royalty for $1 million by the sixth anniversary of the agreements.
EMX has identified several “walk-up” style drill targets based upon the historical and more recent Xstrata data, and will work closely with Minco to systematically explore the area.
EMX is a precious, base and battery metals royalty company.
EMX Royalty Corporation opened trading at $2.45 per share.
