trending Market Intelligence /marketintelligence/en/news-insights/trending/NOO5Fi7g4yLM4QhzKdshdA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Ely Gold options Butte Valley copper project to Quaterra unit

Blog

Top electric vehicle markets dominate lithium-ion battery capacity growth

Blog

Message in a (Word)Cloud

Blog

Essential Metals & Mining Insights - January 2021

Industry Top Trends 2021: Metals and Mining


Ely Gold options Butte Valley copper project to Quaterra unit

Ely Gold Royalties Inc. and its subsidiary Nevada Select Royalty Inc. inked a definitive option agreement for the sale of its Butte Valley copper-gold project in Nevada to Quaterra Resources Inc.'s subsidiary Six Mile Mining Company.

The project consists of 78 unpatented mining claims.

Under the deal, Quaterra has to pay a total of US$250,000 in cash payments, and Nevada Select will retain a 2% net smelter returns royalty on the claims. Quaterra may buy 1% of the NSR for US$10.0 million at any time within 10 years of the effective date.

Meanwhile, Quaterra also signed a lease agreement with a Nevada prospecting syndicate, giving it the option to purchase 600 additional unpatented claims to consolidate the Butte Valley District.