NEWS ROUNDUP — Repadre funds Fairmile play

Additional exploration of the Buffalo Valley gold property in Nevada will be funded through a royalty and financing agreement with Repadre Capital (TSE).

Fairmile Acquisitions (ASE), which can acquire the property by paying US$1.5 million over five years, plans to sell Repadre a 1% net smelter return royalty for $400,000.

Repadre will also buy 476,190 common shares and an equal number of warrants (exercisable at $1.02 for two years) for a total of $400,000. The agreement also gives Repadre the option to buy a further 2% net smelter return royalty for $1.7 million, exercisable for two years from the date of a production decision.