trending Market Intelligence /marketintelligence/en/news-insights/trending/itq7yygbcizpyli90xwmwg2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Avanco to earn up to 100% stake in Jaguar's Gurupi gold project

Cable Net Valuation Benchmarks Hit Recent Low In CBS-Viacom Deal

Panjiva Insights: The Global Trade War’s Impact and Road Ahead

US Smart Cities Projects To Push Annual Revenue Over 700 Million In Five-Year Outlook

MI Mobile App


Avanco to earn up to 100% stake in Jaguar's Gurupi gold project

Jaguar Mining Inc. said Oct. 4 that Avanco Resources Ltd. is earning up to a 100% stake in the company's Gurupi gold project in Brazil.

Avanco has the right to earn a 20% stake through an aggregate cash fee of US$1.7 million, an additional fee of US$500,000 in cash or shares, and by spending at least US$300,000 on the project.

The publication of a JORC-compliant reserve estimate in excess of 500,000 ounces will earn Avanco an additional 31% interest. Avanco can earn a further 29% interest upon demonstration of adequate funding and starting construction of a process plant with capacity in excess of 50,000 ounces per year.

Should Avanco fail to demonstrate adequate funding for the project, Jaguar will have a one-time right to repurchase a 31% interest in Gurupi by paying Avanco the reasonable costs and expenses incurred in the preparation of the reserve estimate and technical studies.

Avanco can acquire the remaining 20% interest in the project by paying US$6.3 million or the sum of US$12.50 per ounce of gold as per the JORC compliant reserve estimate, whichever is higher.

Jaguar will retain a net smelter return royalty on gold or gold equivalent production at 1% on the first 500,000 ounces, 2% on production from 500,001 to 1.5 million ounces, and 1% on production exceeding 1.5 million ounces.