Business
Stellar Africagold Amends Zuenoula Agreement, Cote d'Ivoire, Reduces Royalty
(TheNewswire) Vancouver - TheNewswire - February 6, 2023 – J. Franç...
About this update from Stellar Africagold, Inc.
[{"type":"text","content":"Stellar Africagold Amends Zuenoula Agreement, Cote d'Ivoire, Reduces Royalty\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver -\n \n \n TheNewswire -\n \n \n February 6, 2023 –\n \n \n J. François Lalonde\n \n \n ,\n \n \n \n President and Chief Executive Officer of\n \n \n \n Stellar AfricaGold\nInc., (TSXV:SPX\n \n \n )\n \n \n ,\n \n \n (\n \n \n TGAT:6YP1\n \n \n )\n \n \n ,\n \n \n (\n \n \n FSE:6YP1)\n \n \n (\"Stellar\" or the \"Company\") is pleased to\nannounce:\n \n \n \n \n Modification to Zuénoula Licence\nAgreement\n \n \n \n \n Stellar has reached an agreement regarding the\nZuénoula Gold Licence (under application) in Côte d’Ivoire with\nAltus Strategies Ltd, a wholly owned subsidiary of TSX-V listed\nElemental Altus Royalties Corp. (\"Elemental Altus\") to\nmodify the existing property purchase agreement and royalty\ndeed.\n \n \n \n \n Summarized, the significant positive changes to the\nagreements and royalty deed are:\n \n \n \n \n \n \n To reduce the current Net Smelter Royalty from 2.5%\nwith the right to buy-back 1% of that royalty for $1,000,000 to a\n \n \n flat 1% Net Smelter Royalty\n \n \n with no buy-back, and\n \n \n \n \n \n \n To reduce the additional considerations payable from\n$250,000 in cash or shares upon reaching 500,000 ounces of gold\nresources with at least 250,000 in the Indicated category and a\nfurther $250,000 in cash or shares upon completion of a feasibility\nstudy to\n \n \n a flat $500,000 in\ncash or shares upon reaching 1,000,000 ounces of gold resources with\nat least 500,000 ounces in the Indicated category\n \n \n \n \n \n \n The consideration payable by Stellar for these\nsignificant positive amendments is the issuance of 250,000 shares in\nStellar to Elemental Altus upon TSX Venture Exchange acceptance of the\namending agreements and an additional 250,000 shares upon final\nissuance of the Zuénoula Gold Licence by the Côte d’Ivoire\nauthorities. Stellar will file these amending agreements with the\nTSX-V as an Expedited Transaction.\n \n \n \n \n About the Zuénoula Gold\nLicence\n \n \n \n \n The Zuénoula Gold Licence comprises a single\n400km\n \n \n 2\n \n \n permit application which is currently in process with final\napproval and licence issuance pending. The Zuénoula Gold...