NEWS ROUNDUP — Repadre closes Nicaraguan deal

Toronto-based Repadre Capital (TSE) is buying a 5% net smelter return royalty and a 6% net profit interest in the Limon-India gold operation in Nicaragua.

It will receive the royalties in return for payment of US$3.3 million to privately owned Triton Mining, 107,642 Repadre shares, and warrants to buy an additional 107,642 shares at $3 each for one year.

Repadre is also buying 30% of Triton’s common shares.

The Limon mine produces 24,000 oz. per year from two open pits and one underground operation. The mining rate is 440 tons per day.

Triton plans to expand the mill to 1,100 tons per day and increase annual production to 38,000 oz. Proven and probable minable reserves are estimated at 1.7 million tons grading 0.15 oz. gold per ton.

The royalty also covers Triton’s other concessions, which constitute a total area of 3,500 sq. km.