- EMX Royalty Corporation (EMX) has signed exploration and option agreements with Hochschild Mining for four precious metal projects
- The projects include Valve House, Lehman Butte, and Timber Butte in Idaho and Speed Goat in Nevada
- Hochschild has the option to earn a 100 per cent interest in each project by making $600,000 in cash payments and completing $1.5 million in exploration expenditures
- EMX will retain a 4 per cent net smelter royalty (NSR) on each project
- EMX is a precious, base, and battery metals royalty company
- Shares in EMX Royalty Corporation (EMX) are down 1.06 per cent, trading at $2.80 per share
EMX Royalty Corporation (EMX) has signed exploration and option agreements with Hochschild Mining for four precious metal projects.
The agreements provide EMX, through its wholly-owned subsidiary Bronco Creek Exploration, with work commitments and cash payments during Hochschild’s earn-in period.
The three Idaho projects, Valve House, Timber Butte, and Lehman Butte are located in southern and south-central Idaho. The Speed Goat project is located in the greater Battle Mountain-Eureka gold belt of north-central Nevada.
Hochschild has already completed mapping and sampling programs across all four properties.
Under the agreements, Hochschild has the option to earn a 100 per cent interest in each project by making $600,000 in cash payments, completing $1.5 million in exploration expenditures, and reimbursing the previous year’s holding costs to EMX.
Once Hochschild exercises its option, EMX will retain a 4 per cent net smelter royalty (NSR) on each project.
Hochschild will also make annual advance royalty (AAR) payments of $50,000 that increase to $100,000 upon completion of a preliminary economic assessment (PEA).
In addition, Hochschild will make project milestone payments consisting of $500,000 upon completion of a PEA, $1 million upon completion of a pre-feasibility study, and $1 million upon completion of a feasibility study.
EMX is a precious, base, and battery metals royalty company. The company’s royalty and exploration portfolio mainly consist of properties in North America, Europe, Turkey, Australia, Chile, and Haiti.
Shares in EMX Royalty Corporation (EMX) are down 1.06 per cent, trading at $2.80 per share as of 12:04 pm EST.