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Cabral Enters into NSR Royalty Agreement with Osisko Gold Royalties on the Cuiú Cuiú Gold Project, Brazil
Vancouver, British Columbia--(Newsfile Corp. - July 12, 2023) -  Cabral Gold Inc. (TSXV: ...
About this update from Cabral Gold, Inc.
[{"type":"text","content":"Cabral Enters into NSR Royalty Agreement with Osisko Gold Royalties on the Cuiú Cuiú Gold Project, BrazilVancouver, British Columbia--(Newsfile Corp. - July 12, 2023) -  Cabral Gold Inc. (TSXV: CBR) (OTC PINK: CBGZF) (\"Cabral\" or the \"Company\") is pleased to announce that it has entered into a royalty agreement with Osisko Gold Royalties Ltd. (\"Osisko\") (OR: TSX & NYSE) pursuant to which Osisko has agreed to purchase a 1% net smelter return (\"NSR\") royalty on the Cuiú Cuiú gold project for a total cash consideration of US$5 million.HighlightsOsisko has agreed to purchase a 1% NSR royalty on the Cuiú Cuiú gold project for a cash consideration of US$5 million (C$6.6M). The consideration will be paid in two tranches; US$2.5 million on closing and US$2.5 million following the registration of certain security pledges which is expected during July 2023 The royalty applies to the area containing the existing resources as well as the surrounding land package This investment allows Cabral to accelerate the ongoing Prefeasibility Study that is currently being undertaken by Ausenco do Brasil Eugenharia Ltda. (\"Ausenco\") and is expected to be completed during Q4 2023. It also provides strategic flexibility and optionality regarding any future project financing process The investment represents a strong endorsement of the Cuiú Cuiú gold project from a leading public royalty company with well-respected technical expertiseAlan Carter, Cabral's President and CEO commented, \"This transaction with Osisko allows us to take a major step forward in achieving our objective of near-term production, and as a result, should deliver meaningful value to our shareholders. It will also reduce share dilution and provide us with a strong balance sheet moving forward. Perhaps most importantly, it will provide us with strategic flexibility and options regarding future project financing processes. This financing will enable us to accelerate the Prefeasibility study regarding the trial mining and heap-leach processing exploiting near-surface oxide gold mineralization at Cuiú Cuiú that is being undertaken by Ausenco\". Cuiú Cuiú ProjectCuiú Cuiú is an advanced gold exploration and development project located in the state of Para, Brazil, immediately adjacent to...