Two juniors have entered into agreements with Placer Dome (TSE) related to royalties on a property in Quebec’s Bourlamaque Twp.
Placer recently acquired the property, which adjoins its Sigma gold mine, from Dufresnoy Industrial Minerals (ME).
Union Gold (ASE) and New Bidlamaque Gold Mines (CDN) say their net profits royalties have been converted into net smelter return (NSR) royalties. Each company received $25,000 for signing; the NSR royalties vary according to the price of gold.
The juniors say Placer has agreed to spend at least $250,000 on work at the property during the next five years.
Be the first to comment on "Juniors convert their royalties"