trending Market Intelligence /marketintelligence/en/news-insights/trending/7cgkv1ay88u10czfowcbtw2 content esgSubNav
In This List

Rosita acquiring property near Sokoman's Moosehead gold project


Essential IR Insights Newsletter - April 2023


Masters of Risk | Episode 2: A Discussion with Ilya Khaykin


According to Market Intelligence, April 2023


Discover the Power of S&P Capital IQ Pro

Rosita acquiring property near Sokoman's Moosehead gold project

Rosita Mining Corp. said Aug. 14 that it entered into a binding letter of intent to acquire the Marilyn Three project in Newfoundland and Labrador.

The property consists of 104 claim blocks covering about 2,600 hectares and is on trend with Sokoman Iron Corp.'s recently announced discovery hole at the Moosehead gold project.

Sokoman released a drill result of 11.9 meters grading 44.96 g/t of gold at Moosehead, triggering a string of acquisitions in the area.

Under the terms, Rosita will pay C$35,000 within 24 hours of deal signing and issue 2.5 million shares upon receiving regulatory approval. The company will also reimburse the staking costs.

The vendors will retain a 2% net smelter royalty on the property, half of which Rosita can repurchase for C$1 million.