trending Market Intelligence /marketintelligence/en/news-insights/trending/fwnvl8nylhcckzow_ybccw2 content esgSubNav
In This List

Meteoric to acquire Gillies cobalt project in Ontario

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Blog

Insight Weekly: US bank M&A; low refinancing eases rates impact; Texas crypto mining booms

Blog

Insight Weekly: US stocks hit grim milestone; top European banks tumble; TMT IPOs plunge

Video

Gold and Copper Summit 2022: Overview of Global Gold Markets in 2022 and Beyond


Meteoric to acquire Gillies cobalt project in Ontario

Meteoric Resources NL said March 27 that it signed a binding agreement to acquire the Gillies cobalt project in Ontario in a cash and shares deal.

The Gillies cobalt project consists of 11 contiguous claim blocks, located in the province's Cobalt camp.

The company will make an initial payment of C$100,000 in cash and shares, then make additional payments of C$180,000 in cash and shares over three years. The vendor will retain a 2% net smelter returns royalty upon the deal's closing.

Meteoric plans to resample the project's historic workings, focusing primarily on cobalt mineralization. A detailed geophysical survey will also begin soon.