Nwdmf - New Dimension Resources (gold)

Discussion in 'Penny Stocks' started by Jon Alba, Jul 27, 2020.

  1. Jon Alba

    Jon Alba Senior Investor

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    New Dimension Resources - Shares for Debt

    2020-09-08 07:30 MT - News Release


    New Dimension Resources - Shares for Debt
    Canada NewsWire

    VANCOUVER, BC, Sept. 8, 2020

    TSX-V: NDR

    VANCOUVER, BC, Sept. 8, 2020 /CNW/ - New Dimension Resources Ltd. (TSXV: NDR) (the "Company", "NDR", or "New Dimension") wishes to announce that in an effort to conserve its capital and subject to regulatory approval, it has agreed to settle $512,721.92 of outstanding indebtedness to current and former insiders of the Company with the issuance of 8,545,365 common shares of the Company at a deemed price of $0.06 per share.

    All proposed shares issued in settlement of debt will be subject to a hold period trading restriction expiring 4 months and 1 day after issuance.

    On Behalf of the Board of New Dimension Resources Ltd.

    "Eric Roth"

    ___________________________
    Eric Roth, Ph.D., FAusIMM
    President & CEO


    About New Dimension Resources

    New Dimension is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on high-grade gold and base metal deposits. The Company's current focus is on the discovery through exploration of high-grade gold deposits on its newly-acquired 100%-owned Southern Gold Line Project (Sweden), as well as on its existing 100%-owned Savant Lake project in Ontario and its 29.6% interest in the Domain Joint Venture with Yamana Gold in Manitoba (Canada). In addition, the Company has acquired 100% interests in two large properties covering the past-producing Løkken and Kjøli copper-rich massive sulfide deposits in central Norway and in which drill-ready targets have already been identified.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

    SOURCE New Dimension Resources Ltd.
     
  2. Jon Alba

    Jon Alba Senior Investor

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    New Dimension issues 6.43M shares for debt of $385,963

    2020-09-16 18:44 MT - News Release


    Mr. Eric Roth reports

    SHARES FOR DEBT SETTLEMENT

    Further to the news release of Sept. 8, 2020, wherein New Dimension Resources Ltd. announced the settlement of $512,722 in indebtedness by the issuance of 8,545,365 ordinary shares, New Dimension has settled company indebtedness of $385,963 due to current and former insiders of the company with the issuance of 6,432,714 common shares of the company. The settled indebtedness consists of $45,582 in fees due to former directors of the Company; $47,500 due to the current CEO and outstanding debt balance of $292,881 which consists of full and partial payment of loans provided to the Company by current insiders. Any unsettled debt will be paid in normal course.

    The shares issued in settlement are subject to a hold period trading restriction expiring on January 16, 2021.

    About New Dimension Resources

    New Dimension is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on high-grade gold and base metal deposits. The Company's current focus is on the discovery through exploration of high-grade gold deposits on its newly-acquired 100%-owned Southern Gold Line Project (Sweden), as well as on its existing 100%-owned Savant Lake project in Ontario and its 29.6% interest in the Domain Joint Venture with Yamana Gold in Manitoba (Canada). In addition, the Company has acquired 100% interests in two large properties covering the past-producing Lokken and Kjoli copper-rich massive sulfide deposits in central Norway and in which drill-ready targets have already been identified.

    © 2020 Canjex Publishing Ltd. All rights reserved.
     
  3. Jon Alba

    Jon Alba Senior Investor

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  4. Jon Alba

    Jon Alba Senior Investor

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    New Dimension Options Savant Lake Gold Project to Ethos Gold

    2020-09-21 07:00 MT - News Release

    TSXV: NDR

    VANCOUVER, BC, Sept. 21, 2020 /PRNewswire/ - New Dimension Resources Ltd. (TSXV: NDR) (the "Company", or "New Dimension") is pleased to announce that it has executed an earn-in agreement with Ethos Gold Corp. (TSXV: ECC)("Ethos") in which Ethos may earn-in to a 70% interest in the Savant Lake project in return for staged cash and share payments to New Dimension and $C 2M of work commitments.

    The Savant Lake project is located 240km NW of Thunder Bay, Ontario, and covers 22,900 Ha (229 square kilometres) of underexplored but highly prospective stratigraphy for the discovery of high-grade iron formation- and shear-hosted gold deposits. Exploration activities to date have focused on seven known iron formation-hosted gold occurrences, with the highest gold grade showings (Horseshoe, Snowbird, L28) having never been drill tested and the remainder inadequately tested by historical drilling (see Company New Releases dated November 21, 2018 and December 2, 2019). Airborne magnetic data also indicate that 60km of cumulative strike length of prospective, folded iron formations remain to be evaluated (with 90% of this strike length having either limited or no surface exposure). Shear-hosted gold occurrences have also been identified within flanking bimodal volcanic rock sequences.

    Terms of the Agreement

    Ethos may earn-In to a 70% interest in the Savant Lake property in return for the following cash and share payments to New Dimension and associated work commitments:

    Cash

    Ethos Shares

    Work Commitment

    On signing

    $50,000

    2,000,000

    September 20, 2021

    $50,000

    2,000,000

    $500,000

    September 20, 2022

    $50,000

    2,000,000

    $1,500,000

    September 20, 2023

    $50,000

    2,000,000

    $500,000

    Total

    $200,000

    8,000,000

    $2,000,000

    In addition, in the event of a National Instrument 43-101 ("NI-43-101") compliant mineral resource of >1 million ounces of gold being defined on the property, then Ethos will make a further payment to New Dimension of $50,000 in cash and 2 million Ethos shares.

    Eric Roth, New Dimension's CEO, commented today: "I am extremely pleased to be announcing this earn-in agreement with Ethos on our Savant Lake property. We have always been firm believers in the potential for a significant discovery at Savant Lake, and now in Ethos we have a strong partner with an impressive track record of discovery and the financial strength to move the project forward. Ethos's technical team is headed by Jo Price as VP Exploration, with Rob Carpenter - the former CEO of Kaminak Gold, which was acquired by Goldcorp in 2016 for $500 million - leading Ethos's Technical Advisory Group.

    With day-to-day operations at both our Savant Lake and Domain projects now being managed by Joint Venture partners, this will allow us to focus on advancing our recently-acquired, high-grade Løkken and Kjøli copper projects in Norway and the Southern Gold Line project in Sweden towards drilling. I look forward to keeping the market informed on advances at all of our Canadian and Scandinavian projects".

    About the Savant Lake Project

    The Savant Lake project is located within the Archean-age Savant Lake-Sturgeon Lake greenstone belt, approximately 240 km NW of Thunder Bay and 240 km S of Newmont's operating Musselwhite mine1 (Proven and Probable Reserves at December 31, 2019: 9.9 MT @ 6.52 g/t Au for 2.09Moz Au2). The Company's mineral claims in the Savant Lake area total 229 square kilometres and cover meta-volcanic and meta-sedimentary rock sequences which are prospective for both iron formation ("Musselwhite-type")- and shear zone-hosted gold deposits, in addition to base metal-rich (copper-zinc-gold) massive sulfide ("VMS") deposits. The Company completed an initial 8 hole / 1,626 m diamond drill program at Savant Lake in 2017 on select geophysical targets in the northern part of the property, however, numerous high-grade gold targets in the central and southern portion of the property remain untested.

    1 Mineralization hosted on adjacent and nearby properties is not necessarily indicative of mineralization that may be hosted on the Company's Savant Lake project. 2 Source: Newmont Reserve and Resource Statement: February 13, 2020.

    Qualified Persons and Disclosure Statement

    The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101, and approved by Eric Roth, the Company's President & CEO, a director and a Qualified Person under NI 43-101. Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has over 25 years of experience in international minerals exploration and mining project evaluation.

    On Behalf of the Board of New Dimension Resources Ltd.

    "Eric Roth"
    ___________________________

    Eric Roth, Ph.D., FAusIMM
    President & CEO


    About New Dimension Resources Ltd

    New Dimension is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on high-grade gold and base metal deposits. The Company's current focus is on the discovery through exploration of high-grade gold deposits on its newly-acquired 100%-owned Southern Gold Line Project (Sweden), as well as on its Savant Lake project (Ontario) and its 29.6% interest in the Domain Joint Venture with Yamana Gold in Manitoba (Canada). In addition, the Company has acquired 100% interests in two large properties covering the past-producing Løkken and Kjøli copper-rich massive sulfide deposits in central Norway and in which drill-ready targets have already been identified.
     
  5. Jon Alba

    Jon Alba Senior Investor

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    NDR now has 3 JV partners:

    - YRI.T (Yamana Gold) For Domain (70/30)
    - AGLD.V (Austral Gold) for Santa Cruz (80/20)
    - ECC.V (Ethos Gold) for Savant Lake (70/30)
    - Two more Argentina Assets (one of them has a 43-101 indicated resource of 400k ounces gold & 10 million silver)
    - 3 Newly acquired Scandinavian Gold/Silver/Copper assets that are located next to major producing mines

    Company is well financed as of recent:
    - $3.62M raised, insider and institutional participation
    - $512K shares for debt, mostly insiders. They had the choice for a cash payment and chose shares
    - $800K sale for 80% of Santa Cruz
    - $2M sale for 70% of Savant Lake

    Fair market cap value based on assets being worked on, cash in hand and potential, should be a minimum $26 million right now, or $0.20 a share. There are so many catalysts and ways for New Dimension Resources to prove up a property and bring shareholder value with 8 projects on the go.
     
  6. Jon Alba

    Jon Alba Senior Investor

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    New Dimension 6,432,714 shares for debt

    2020-09-21 18:34 MT - Shares for Debt


    The TSX Venture Exchange has accepted for filing the company's proposal to issue 6,432,714 common shares to settle outstanding debt for $385,963.



    Number of creditors: five creditors

    Insiders: Eric Roth, $96,721, 1,612,017 shares at six cents; Mary Little, $20,000, 333,333 shares at six cents; Sandstorm Gold Ltd., $223,660, 3,727,666 shares at six cents



    The company shall issue a news release when the shares are issued and the debt extinguished.

    © 2020 Canjex Publishing Ltd. All rights reserved.
     
  7. Jon Alba

    Jon Alba Senior Investor

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    New Dimension Resources (Management Discussion) Released September 28th 2020. Financials are not included due to the fact that the cut off was in May, long before the $3.6 million private placement and $515K shares for debt deals took place. All information below can be found on Sedar and was released this evening.

    HIGHLIGHTS AND DEVELOPMENTS FOR THE YEAR ENDED MAY 31, 2020 AND TO THE DATE OF THIS REPORT Projects

    • On September 21, 2020, the Company announced that it had executed an earn-in agreement with Ethos Gold Corp. (TSX.V: ECC) in which Ethos may earn-in to a 70% interest in the Savant Lake gold project in return for staged cash and share payments to New Dimension and $2M of work commitments.

    • On August 11, 2020, the Company announced that it had entered into an option and purchase agreement with EMX Royalty Corporation (NYSE American: EMX; TSX Venture: EMX) for the acquisition of 100% interests in the Southern Gold Line Project in central Sweden, and the Løkken and Kjøli copper-zinc-gold projects in central Norway. The Southern Gold Line project consists of a group of licences adjacent to Dragon Mining Limited's Fäboliden gold development project and Svartliden gold mine, whilst the Løkken and Kjøli licences cover both past-producing, high-grade copper(-zinc-gold) mines as well as drill-ready regional exploration targets.

    • On April 7, 2020 the Company announced that it had successfully completed its earn-in to a 100% interest in the Savant Lake project in northwestern Ontario. The Savant Lake project covers 229 square kilometres of underexplored but highly prospective Archean stratigraphy for the discovery of high-grade iron formation- and shear-hosted gold deposits, in addition to base metal-rich massive sulfide deposits. Seven priority target areas (5 high-grade gold and 2 massive sulfide) have been identified to date at Savant Lake for drill testing (see Company News Release dated December 2, 2019).

    • On April 1, 2020 the Company announced it had entered into an agreement with Austral Gold Limited (“Austral”)(ASX: AGD; TSX.V: AGLD) for the purchase of an 80% interest in the Company’s Sierra Blanca gold-silver project in Santa Cruz Province, Argentina for US$800,000 in cash and work commitments, with a 3 of 26 'follow-on' option to purchase the remaining 20% interest for an additional US$2,300,000 in cash and work commitments. The Definitive Agreement was signed on September 24, 2020, subject to certain requirements, having been delayed by the ongoing shutdown of both provincial government entities and legal and notarial services - all required for the due diligence process - as a result of the COVID-19 pandemic.

    • On February 26, 2020 the Company noted Yamana Gold’s (or “Yamana”)(TSX:YRI; NYSE:AUY) update on exploration activities on its pipeline of highly-prospective gold projects, including the Domain Joint Venture (“JV”) in Manitoba. Domain is a 70.4%:29.6% JV between Yamana and New Dimension. Yamana commented that they will continue to engage with the Bunibonibee Cree Nation in 2020 in an effort to reach a mutually beneficial agreement supporting the advancement of exploration within the large, prospective land package at Domain.

    Corporate Developments

    • On September 8, 2020, the Company announced the completion of a non-brokered private placement, for proceeds of $3,624,992, with a lead order from Palisades Goldcorp Ltd. The Company successfully completed the sale of 60,416,531 units. The units are comprised of one common share and one share purchase warrant entitling the holder to acquire one additional common share at $0.12 until expiry September 3, 2023. Proceeds will be used for exploration activities and general working capital. The Company’s immediate priorities will be to advance its recently acquired Scandinavian projects. The Company paid an aggregate of $128,503 in broker fees and issued 2,081,730 brokers warrants under the same terms and conditions of the unit warrants. All securities issued under the placement are subject to a four month hold period trade restriction expiring January 4, 2021.

    • On September 16 and 18, 2020 the Company announced that in an effort to conserve its capital and subject to regulatory approval, it had agreed to settle $385,963 of outstanding indebtedness to current and former insiders of the Company with the issuance of 6,432,714 common shares of the Company at a deemed price of $0.06 per share. The Company has not made the share issuance to settle the debt as of the date of this report.

    • During the year, the Company recognised a write down provision of $4,528,887 against its Las Calandria, Los Cisnes and Sierra Blanca projects to reflect the Company’s change in exploration strategy, as subsequent to May 31, 2020 the Company moved its focus from its Argentinean portfolio to its newly acquired Swedish and Norwegian projects. The Company continues to explore varying strategies to further develop and extract value from its Argentinean portfolio. The Company believes it can potentially realise value out of these assets but this will be dependent on the level of investor interest in Argentinean assets.

    OUTLOOK

    Exploration activities for the remainder of fiscal 2020 will focus on advancing the recently-acquired Scandinavian assets towards drilling. Joint Venture partners will manage work programs at both the Savant Lake and Domain projects in Canada.

    To find out additional information on any of the eight mineral projects, please visit New Dimension Resources website: http://www.newdimensionresources.com/
     
  8. Jon Alba

    Jon Alba Senior Investor

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    Austral Gold Closes Acquisition of New Dimension's Sierra Blanca Gold-Silver Project
    Canada NewsWire

    VANCOUVER, BC, Oct. 13, 2020

    VANCOUVER, BC, Oct. 13, 2020 /CNW/ - Austral Gold Limited ("Austral") (ASX: AGD) (TSX-V: AGLD) and New Dimension Resources Ltd. ("New Dimension") (TSX-V: NDR) are pleased to announce the closing of the previously announced acquisition of New Dimension´s Sierra Blanca Gold-Silver Project in Santa Cruz Province, Argentina. The transaction enables Austral to acquire an initial 80% interest in Sierra Blanca S.A. ("SBSA") that owns the Sierra Blanca project for a total of US$800,000 in cash and work commitments, with a 'follow-on' option to purchase the remaining 20% interest for an additional US$2,300,000 in cash and work commitments. Austral plans to fund the cost of the transaction from cash flow generated from operations. Please refer to the Joint News release dated 1 April 2020 for further details of the transaction.

    [​IMG]

    Austral Gold's Chief Executive Officer, Stabro Kasaneva said: "We are pleased to add Sierra Blanca to our portfolio of attractive exploration projects in Argentina. The project complements our Pingüino project and expands our exploration footprint to over 17,000 hectares over the two projects. Both projects are located adjacent to each other in the geological zone of Deseado Massif in the Santa Cruz Province, one of the most prominent precious metal regions in the world including world-class deposits such as Cerro Vanguardia1."

    1 Mineralisation hosted on nearby and/or adjacent properties is not necessarily indicative of mineralisation hosted on the Company's properties

    Eric Roth, New Dimension's CEO, commented: "I am pleased to be reporting the closing of the Sierra Blanca Transaction, after an extended Due Diligence process which had been significantly impacted by Covid-19 lockdowns and travel restrictions in Argentina. We are now looking forward to Austral initiating field activities at Sierra Blanca and continuing to work towards unlocking the full economic potential of the combined Sierra Blanca-Pingüino district.

    With the closing of the Sierra Blanca Transaction, New Dimension now has three projects in which day-to-day operations are managed by Joint Venture partners (Sierra Blanca, Domain, and the recently-announced Joint Venture with Ethos Gold Corp. at the Savant Lake Project). This will allow us to focus on advancing our recently acquired, high-grade Løkken and Kjøli copper projects in Norway and the Southern Gold Line project in Sweden towards drilling. I look forward to keeping the market informed on advances at our Canadian and Scandinavian projects, as well as shortly providing an update on our Las Calandrias project".

    Options to Acquire 50% of Underlying Net Smelter Royalties

    New Dimension also entered into agreements with both Iamgold Corporation ("Iamgold") and Sandstorm Gold Limited ("Sandstorm") that provide SBSA with options to acquire one-half of their respective royalties on the Sierra Blanca project.

    The agreement with Iamgold provides SBSA the option to acquire one half (0.75%) of its 1.5% NSR for CAD $750,000 at any time prior to the commencement of commercial production. In further consideration of this agreement, and subject to approval by the TSX Venture Exchange, New Dimension will issue Iamgold 500,000 NDR common shares.

    The agreement with Sandstorm provides SBSA the option to acquire one-half (1%) of its existing 2% NSR for CAD $1,000,000 at any time prior to the commencement of commercial production.

    About the Sierra Blanca project:

    New Dimension acquired a 100% interest in the Sierra Blanca gold-silver project from Sandstorm Gold Limited ("Sandstorm") in May, 2018, as part of the acquisition of a larger portfolio of three gold-silver projects - Las Calandrias, Los Cisnes, and Sierra Blanca – all located in the highly- prospective and mining-friendly Santa Cruz Province. The Sierra Blanca project was previously controlled by Mariana Resources Limited ("Mariana') and consists of approximately 7,000 Ha (70 square kilometres) of mining claims.

    Previous work at Sierra Blanca had mostly been focused on the E-W-trending Chala-Achen and Lucila vein systems, where high-grade silver values had been derived from surface channel sampling (including 9.4m @ 2,362 g/t Ag at Chala-Achen; see New Dimension News Release dated 4 March 2019 (Figures 2 and 3). During 2019, exploration activities at Sierra Blanca were focused on trenching and sampling on the NW-trenching Ana (and Ana Splay), Tranquilo, and Laguna "vein fields" with targets for follow-up drilling having been defined. A total of 10 target areas have been identified for further work at Sierra Blanca (typically dilation zones associated with the intersection of mineralized NE- and NW-trending vein/fault systems), and only 4 of these have been partially tested by historical drilling (a total of 122 holes for 15,924 m, completed mostly in the Chala-Achen-Lucila corridor). All of the major vein systems known in the eastern portion of the Sierra Blanca are interpreted by New Dimension to extend into the adjacent Pingüino property.

    About the Pingüino project

    The Silver-Gold-Zinc-Lead-Indium Pingüino Project is an advanced stage development project located in the south-central part of Argentina; 300km southwest of the city of Comodoro Rivadavia and 220km northwest of Puerto San Julián. In the last 15 years, six mines were constructed in the Santa Cruz Province, making it one of the most prominent precious metal regions in the world, including world class deposits such as Cerro Vanguardia and Cerro Negro1. The Pingüino Project is embedded in a vein field similar, but smaller to Cerro Vanguardia, some 35km north-west along the same controlling structure as the Pingüino deposit (225km strike length of veins vs 115 km strike length of veins). The project has year-round access, is close to major infrastructure, has no nearby communities and more than 70% of surface land is owned by the Austral.

    The 2014 updated Resource Estimate Highlights include:

    Ag Eq. = Ag+ 50* Au

    Zn, Pb and In are not included in the resource for Ag equivalent

    • The Technical report was prepared by Mine Development Associates ("MDA") of Reno Nevada and dated 19 September 2014
    • AGD is not aware of any new information or data that materially affects the data above
    • All material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.
    • The form and context in which the Competent Person's findings are presented have not been materially modified.
    Link to the Pingüino project technical report:
    https://www.australgold.com/technical-reports/

    Qualified Persons and Disclosure Statement

    The technical information in this news release relating to the Pingüino project has been approved by Dr Robert Trzebski, a Competent Person and a Qualified Person under NI 43-101 who is a fellow of the Australian Institute of Mining and Metallurgy (AUSIMM) and an Independent Director of Austral Gold.

    About Austral Gold

    Austral Gold Limited is a growing gold and silver mining, development and exploration company building a portfolio of quality assets in Chile, the US and Argentina. Austral's flagship Guanaco/Amancaya project in Chile is a gold and silver producing mine with further exploration upside. Austral also holds the Casposo Mine (San Juan, Argentina), a 26.46% interest in the Rawhide Mine (Nevada, USA) and an attractive portfolio of exploration projects including the Pingüino project in Santa Cruz, Argentina (100% interest) and the San Guillermo and Reprado projects near Amancaya, Chile (100% interest). With an experienced local technical team and highly regarded major shareholder, Austral's goal is to continue to strengthen its asset base through acquisition and discovery. Austral is listed on the TSX Venture Exchange (TSXV: AGLD), and the Australian Securities Exchange. (ASX: AGD). For more information, please consult Austral's website www.australgold.com.

    About New Dimension Resources Ltd

    New Dimension is engaged in the acquisition, exploration, and development of quality mineral resource properties in favourable jurisdictions with a focus on high-grade gold and base metal deposits. The Company's current focus is on the discovery through exploration of high-grade gold deposits on its newly-acquired 100%-owned Southern Gold Line Project (Sweden), as well as on its Savant Lake project (Ontario) and its 29.6% interest in the Domain Joint Venture with Yamana Gold in Manitoba (Canada). In addition, the Company has acquired 100% interests in two large properties covering the past-producing Løkken and Kjøli copper-rich massive sulfide deposits in central Norway and in which drill-ready targets have already been identified.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
     
  9. Jon Alba

    Jon Alba Senior Investor

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    New Dimension agreement for Sierra Blanca NSR royalty

    New Dimension Resources Ltd (3) (C:NDR)
    Shares Issued 127,190,363
    Last Close 10/16/2020 $0.09
    Friday October 16 2020 - Property Agreement

    The TSX Venture Exchange has accepted for filing documentation pertaining to a letter agreement dated April 29, 2020, between New Dimension Resources Ltd. and Iamgold Corp., whereby the company has been granted the option to acquire one-half (0.75 per cent) of the 1.5-per-cent underlying net smelter return (NSR) royalty on its Sierra Blanca gold-silver project, located in Santa Cruz province, Argentina.

    As consideration for the NSR, the company is required to make a $750,000 payment to Iamgold prior to the commencement of commercial production.

    As further consideration for entering into the agreement, the company will issue 500,000 common shares to Iamgold.

    For further details, please refer to the company's news releases dated April 1, 2020, and Oct. 13, 2020.
     
  10. Jon Alba

    Jon Alba Senior Investor

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    Ethos Gold agreement for Savant Lake property

    2020-10-22 14:56 MT - Property Agreement


    The TSX Venture Exchange has accepted for expedited filing documentation an option agreement dated Sept. 1, 2020, between the company and New Dimension Resources Ltd., whereby the company is acquiring a 70-per-cent interest in certain mining claims in Ontario, known as the Savant Lake gold project. Consideration is as follows:



    • On signing, $50,000 cash and two million common shares;
    • On Sept. 20, 2021, $50,000 cash, two million shares and $500,000 in work commitments;
    • On Sept. 20, 2022, $50,000 cash, two million common shares and $1-million in work commitments;
    • On Sept. 20, 2023, $50,000 cash, two million common shares and $500,000 in work commitments.


    Additionally, in the event that a mineral resource in excess of one million ounces of gold is defined on the property, Ethos will make payments to New Dimension of $50,000 cash and two million common shares of Ethos.

    For further information, please refer to the company's news release dated Sept. 21, 2020.

    © 2020 Canjex Publishing Ltd. All rights reserved.
     

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