- EMX Royalty (EMX) carries out an options agreement for projects in Norway, and Sweden with Martin Laboratories EMG Limited, a private UK based company
- The agreement provides EMX with an equity interest in MLE, a 2.5 per cent net smelter return (NSR) royalty on each project, and other considerations including advanced annual royalties (AAR) and milestone payments
- In accordance with the agreement, MLE will have the option to acquire 100 per cent project interests in the Norwegian and Swedish Projects subject to the following terms
- Upon execution, MLE will make a cash payment of USD $50,000 and issue to EMX the number of common shares that represents a 5 per cent equity ownership in MLE
- EMX Royalty (EMX) is up 4.65 per cent, trading at C$4.50 at 12:11 pm EST
EMX Royalty (EMX) carries out an options agreement for projects in Norway, and Sweden with Martin Laboratories EMG Limited, a private UK based company.
MLE was created with the specific intention of advancing this portfolio of “battery metal” projects in Scandinavia and will be initially backed by private sector investment.
The agreement provides EMX with an equity interest in MLE, a 2.5 per cent net smelter return (NSR) royalty on each project, and other considerations including advanced annual royalties (AAR) and milestone payments.
MLE may also issue up to 9.9 per cent of its issued and outstanding share capital to EMX as certain conditions are satisfied.
Each of the Norwegian and Swedish Projects contains nickel-copper-cobalt (Ni-Cu-Co) sulphide prospects and occurrences associated with mafic-ultramafic intrusive complexes in southern Norway and in north-central Sweden.
Platinum-group elements (PGE’s) and gold are also enriched in some of the deposits, although historic sampling for PGE’s and gold was limited and their endowments remain poorly understood.
In accordance with the agreement, MLE will have the option to acquire 100 per cent project interests in the Norwegian and Swedish Projects subject to the following terms.
Upon execution, MLE will make a cash payment of USD $50,000 and issue to EMX the number of common shares that represents a 5 per cent equity ownership in MLE.
MLE will then have a 12 month period in which it must spend a minimum of USD $200,000 on each of the five projects.
In the second year of the Agreement, spend USD $1 million in aggregate across the projects, with a minimum of USD $200,000 spent on each of the Swedish Projects.
The Norwegian Projects are part of a belt of nickel sulphide deposits and occurrences in southern Norway which allowed Norway to become the world’s major producer of nickel in the 1870s.
Work will start on the projects following snowmelt and will consist of new surface mapping, sampling and geophysical programs.
Artificial Intelligence (AI) methods will also be employed to delineate new targets.
EMX will be assisting with the implementation of the exploration programs, which is said to leverage their regional presence and exploration methodologies.
EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality while limiting exposure to risks inherent to operating companies.
EMX Royalty (EMX) is up 4.65 per cent and is trading at C$4.50 at 12:11pm EST.