Palladium One Mining Inc. said Jan. 9 that it signed a binding letter of intent to buy back an existing 2% net smelter return royalty in respect of the historic Haukiaho deposit within the LK PGE-nickel-copper project in Finland.

The terms of the royalty buyback include a cash payment of C$50,000 and issuance of 375,000 common shares. It will make the deposit royalty-free.

The transaction is expected to close in January.