Roscan Gold - CEO, Nana Sangmuah.
CEO, Nana Sangmuah.
Source: YouTube (121 Mining Investment Events).
  • Roscan Gold (ROS) enters into royalty sale agreement with Osisko Gold Royalties for proceeds of up to $10 million
  • This involves the company’s entire Kandiolé project in Mali, West Africa
  • Osisko first acquired a 1 per cent net smelter return (NSR) royalty for $5 million
  • As part of the agreement, Osisko has the option to purchase a second 1 per cent NSR
  • Roscan Gold is a Canadian company focused on the exploration and acquisition of gold properties in West Africa
  • Roscan Gold (ROS) is up by 9.76 per cent trading at $0.225

Roscan Gold (ROS) enters into royalty sale agreement with Osisko Gold Royalties for up to $10 million.

This involves the company’s entire Kandiolé project in Mali, West Africa.

Osisko first acquired a 1 per cent NSR royalty for upfront consideration of $5 million. According to the agreement, Osisko has the option to purchase a second 1 per cent NSR on the property at any time for another $5 million.

The company will have the right to compel Osisko to acquire the additional royalty in the event Roscan receives a long-term exploitation license from the Malian government.

Osisko has also been granted a right of first refusal on future royalties and streams related to the property. This includes the company’s outstanding buyback rights, if the company decides to sell those rights, as well as royalties on any future properties acquired or claimed by the company that are contiguous or complementary to the property.

Nana Sangmuah, President and CEO of Roscan, says:

“We are very happy to welcome Osisko Gold Royalties, a leading royalty and streaming provider, as a strategic partner while we continue to unlock significant value on the very prospective Kandiolé project, which is strategically located between two of the largest producing gold mines in Africa. This financial endorsement will help the company accelerate our objectives of further resource growth and advancing project development.”

Roscan has assembled a significant land position with permits in an area of producing gold mines. This includes B2 Gold’s Fekola Mine, which lies in a contiguous property to the west of Kandiolé and other major gold deposits.

Roscan Gold is focused on the exploration and acquisition of gold properties in West Africa.

Roscan Gold (ROS) is up by 9.76 per cent trading at $0.225 as of 11:38 am ET.

More From The Market Online
Bitcoin and cryptocurrency investing concept

U.S. spot Bitcoin ETFs are live – what happens to Canada’s crypto ETFs?

Three since the first spot Bitcoin ETF was introduced in Canada, these funds are finding formidable competition from U.S. counterparts.

Record new users sign up to Bitcoin Well after popular YouTube feature

Non-custodial crypto business Bitcoin Well (TSXV:BTCW) announces it has signed up a record number of new users to its platform.

Nerds On Site launches AI subsidiary

Nerds on Site (CSE:NERD) reveals the launch of a new artificial intelligence subsidiary called NOS Technical Services.

Altius Renewables reveals development of US$10M facility

Altius Renewable Royalties (TSX:ARR) reveals a US$10.1 million interconnection support facility with Hexagon Energy.