- Discovery Silver (DSV) has signed an agreement to transfer all rights and obligations currently under option agreement on the Jemi Rare Earth Property to Monumental Gold
- The property is located in Coahuila, Mexico, near Monumental’s property
- Discovery will retain a 1.5-per-cent net smelter returns royalty on the property
- The all-stock deal is worth approximately 9.9 per cent of Monument shares on a non-diluted basis
- Discovery Silver is up 6.67 per cent, trading at $1.28 at 11:31 am ET
Discovery Silver (DSV) has signed an agreement to transfer rights and obligations on the Jemi Rare Earth Property to Monumental Gold.
The property is located in Coahuila, Mexico, near Monumental’s property.
The move is in line with Discovery’s strategy of streamlining its property portfolio in order to focus on its flagship Cordero project in Chihuahua, Mexico.
The all-stock deal is worth approximately 9.9 per cent of Monument shares on a non-diluted basis.
Discovery will retain a 1.5-per-cent net smelter returns royalty on the property.
The transaction also provides Discovery with investment exposure to an early-stage exploration property with known showings of rare earth elements.
The transfer of the option agreement to Monumental remains subject to the approval of the TSX Venture Exchange.
Discovery Silver is up 6.67 per cent, trading at $1.28 at 11:31 am ET.