Enduro Metals amends Newmont Lake NSR deal, issues 3,900,000 shares to Oreterra

Newmont Corporation

Newmont Corporation

NEM

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  • Enduro Metals amended its 2% net smelter return royalty deal on the Newmont Lake Project in British Columbia with Oreterra Metals.
  • Issued 3,900,000 shares to Oreterra, paid an initial cash tranche of $175,000; TSX Venture Exchange granted conditional acceptance.
  • Set a deemed floor price of $0.135 for any share consideration potentially payable under the amended royalty agreement.
  • Secured an option to repurchase 50% of the 2% NSR for $8 million before extraction begins.
  • Milestone payments include $500,000 on a maiden NI 43-101 resource estimate, $3.5 million on first feasibility study, $10 million on mine-permitting decision.


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