- Ridgeline Minerals Corp. (RDG) enters an exploration earn-in option agreement to acquire 100 per cent of the Robber Gulch Project from EMX Royalty Corp. (EMX)
- The underexplored project is host to a gold discovery and exhibits similar mineralization to Liberty Gold’s Black Pine Deposit
- Robber Gulch is comprised of 117 lode mining claims totalling 9.3 square kilometres which is in Idaho
- EMX will retain a 3.25 per cent net smelter return royalty on the project
- Ridgeline Minerals Corp. (RDG) is unchanged trading at $0.40 per share as of 11:05 a.m. EST
- EMX Royalty Corp. (EMX) is down 1.50 per cent trading at $2.63 per share as of 11:05 a.m. EST
Ridgeline Minerals (RDG) has entered an earn-in option agreement to acquire 100 per cent of the Robber Gulch Project from EMX Royalty Corp. (EMX).
The underexplored project is host to a gold discovery and exhibits similar mineralization to Liberty Gold’s Black Pine Deposit.
Robber Gulch is comprised of 117 lode mining claims totalling a 9.3 square kilometre area in Idaho.
Ridgeline will also receive a comprehensive geologic database with technical highlights and exploration earn-in terms.
Terms of the agreement include:
- Ridgeline making an initial execution payment of US$50,000 and all option payments totaling US$750,000 over a five-year period, of which up to US$350,000 may be payable in common shares
- Delivering 150,000 Ridgeline shares issued to EMX by the second anniversary of the agreement
- Completing US$650,000 in exploration expenditures before the fifth anniversary
EMX will retain a 3.25 per cent net smelter return royalty on the project.
Ridgeline can reduce the NSR royalty to 2.25 per cent by:
- Completing an initial 0.5 per cent royalty buyback with a payment of US$1,500,000 to EMX before the third anniversary of the option exercise
- Paying US$2,000,000 to EMX anytime thereafter for the remaining 0.5 per cent
- Ridgeline will make Annual Advance Royalty payments of US$50,000 that increase to US$75,000 upon completion of a Preliminary Economic Assessment or Order of Magnitude Study with payments to cease upon commencement of commercial production
- Ridgeline making project milestone payments of either US$250,000 after a preliminary economic assessment, US$500,000 and a prefeasibility or feasibility study, or US$1,000,000 upon a positive development decision
Ridgeline Minerals Corp. (RDG) is unchanged trading at $0.40 per share as of 11:05 a.m. EST.
EMX Royalty Corp. (EMX) is down 1.50 per cent trading at $2.63 per share as of 11:05 a.m. EST.
