Business
EMX Executes Agreement to Sell Two Norwegian Projects to Minco Silver
Vancouver, British Columbia--(Newsfile Corp. - July 20, 2022) - EMX Royalty Corporation (NY...
About this update from Minco Silver Corporation
[{"type":"text","content":"EMX Executes Agreement to Sell Two Norwegian Projects to Minco SilverVancouver, British Columbia--(Newsfile Corp. - July 20, 2022) - EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the \"Company\" or \"EMX\") is pleased to announce the execution of an exploration and option agreement for two projects in Norway with Minco Silver Corporation (TSX: MSV) (\"Minco\"). The agreement provides EMX with cash payments and work commitments during a one-year option period, and upon exercise of an option on either project, EMX will receive equity stakes in Minco, additional work commitments, advance royalty payments, milestone payments and a 2.5% NSR royalty.The two projects optioned to Minco are the Sagvoll and Sulitjelma polymetallic projects in Norway (See Figure 1). The Sagvoll project hosts both volcanogenic massive sulfide (\"VMS\") styles of mineralization and magmatic sulfide nickel-copper mineralization, and the Sulitjelma project is past producer of VMS polymetallic mineralization. The combination of base, battery and precious metals make this an especially compelling portfolio of projects.Minco is a well-capitalized, Canadian publicly traded company that will work closely with EMX to advance the projects through the option period. Commercial Terms Overview. All terms in Canadian Dollars. Pursuant to the agreement, Minco can acquire a 100% interest in either of the projects by a) making a $60,000 cash payment to EMX upon execution, and b) spending a minimum of $100,000 on each of the projects during a 12 month option period. Upon exercise of an option on either project, Minco will:pay EMX $35,000 in cash, and issue to EMX a 2.5% NSR royalty interest in each project retained1, issue to EMX the amount of shares equal to 2% of the issued and outstanding shares of Minco,upon the 6th month anniversary of exercise of an option for each retained project, issue additional shares equal to 0.5% of the issued and outstanding shares of Minco and expend an additional $200,000 per project,by the third anniversary of the execution of the agreements, expend an additional $700,000 per project retained,beginning on the third anniversary of the execution of the agreements, make annual advance royalty payments to EMX, which will start at $25,000 per project per year and increase by 15% each year thereafter (but capped at an annual...