trending Market Intelligence /marketintelligence/en/news-insights/trending/QR_vKFOwn6YDe12kpv5gjg2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Royal Road in talks over setting up Colombian gold JV

Blog

Essential Metals & Mining Insights – February 2021

Blog

Top electric vehicle markets dominate lithium-ion battery capacity growth

Blog

Message in a (Word)Cloud

Blog

Essential Metals & Mining Insights - January 2021


Royal Road in talks over setting up Colombian gold JV

Royal Road Minerals Ltd. entered a letter of intent with Mineros SA to negotiate a joint venture over the former's gold-prospective Guintar and Niverengo concessions and its Margaritas title application in Colombia's Antioquia District.

The joint venture needs to be formed before Jan. 30, 2020, according to the Dec. 23, 2019, release.

Mineros would pay US$1 million to Royal Road on execution of the definitive agreement and fund all exploration costs up to US$2.5 million.

Mineros can acquire 25% of the project by spending at least US$1 million, and another 25% after spending the total US$2.5 million.

The project titles and title applications will be transferred to a new special purpose company.

The companies will jointly fund operations of the project company, and Royal Road will be the project operator as long as it holds at least a 50% interest.

Royal Road President and CEO Tim Coughlin said the company will focus mainly on drill testing the recently permitted Niverengo and Guintar projects and look to define an initial inferred resource in the second half of 2020.