NDT acquires property in Brazil

NDT Ventures (NDE-V) is acquiring 48,000 acres in Brazil’s Minas Gerais state, where historic garimpeiro gold workings are known to exist.

NDT will pay US$945,000 in cash to the Brazilian vendor, issue 800,000 common shares and spend US$600,000 on exploration over three years. The vendor retains a 2.5% net smelter return royalty, 1% of which NDT can buy for US$1 million.

On completion of a prefeasibility study indicating a minimum of 1 million proven and probable ounces of gold, NDT will issue up to 400,000 extra shares.

The company has begun its due diligence and has until May 1 to obtain the necessary approvals.