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Rackla restructures Yukon gold holdings


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Rackla restructures Yukon gold holdings

Rackla Metals Inc. said May 15 that it sold or joint ventured a majority of its projects in Canada's Yukon territory to reduce holding costs while retaining exposure through net smelter return royalties.

The company sold 63 Sixty Mile claims to an arm's length individual, in exchange for 100 claims at the Rivier gold project. The vendor will retain a 2% net smelter return royalty on the Rivier claims as well as C$10,000 in annual advance royalty payments, starting in April 2020.

It also reached a deal with Strategic Metals Ltd. to sell 230 claims at the Scarlet East project and 49 claims at Hat, for C$50,000 and a 1% NSR, while it sold 81 Sixty Mile claims for a potential 25% share of any future payments received over a five-year period.

Finally, a total of 346 Sixty Mile and 320 Scarlet West claims lapsed.

As a result, the company said its Yukon portfolio now consists solely of 116 claims at the Rivier project.