MINING REFINING

Halcones signs binding deal to buy Chilean gold project  

Tue Oct 29 2024

Halcones Precious Metals has signed an option agreement to acquire 100% interest in the Polaris gold project from Austral Exploraciones, a Chilean exploration company. Under the terms of the agreement, Halcones will issue 50 million shares to the vendors at a deemed price of $0.05 per share.

Additionally, a cash payment of $100,000 is to be made to Austral upon approval and closing of the transaction by the TSX Venture Exchange. A milestone payment of $2m is due to Austral upon the 48-month anniversary of the transaction’s closing.

Additionally, the deal includes a 2% net smelter return royalty over the project to Austral. The transaction is subject to standard closing conditions, including the approval of the TSX Venture Exchange.

Source: https://www.mining-technology.com/