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Diamante Enters into Gold Stream Agreement from Molejon Gold Mine in Panama
Diamante Enters into Gold Stream Agreement from Molejon Gold Mine in Panama.
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[{"type":"text","content":"\n\n\n\nDiamante Enters into Gold Stream Agreement from Molejon Gold Mine in Panama\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nDiamante Enters into Gold Stream Agreement from Molejon Gold Mine in Panama\nCanada NewsWire\nKELOWNA, BC, Feb. 3, 2016\n\n\n\nCompany Acquires 12.5% Royalty\n\n\n\nKELOWNA, BC, Feb. 3, 2016 /CNW/ - Diamante Minerals, Inc. (OTCBB: DIMN), a natural resources company, today announced a gold stream agreement for the Molejon Gold Mine, located in the Donoso District, Colon Province of Panama.\n\nDiamante has negotiated a royalty of 12.5% on 1,000 ounces of gold produced per month for 12 months.  In the event monthly production exceeds 1,000 ounces Diamante is to receive an additional 5% royalty. Diamante will receive the royalty upon completion of bridge funding to Blendcore LLC who acts as the master contractor for the mine owned by Petaquilla Gold, S.A.  These funds will be used to re-start one processing line at the mine to allow the treatment of stockpiled minerals.  \n\nUnder the terms of the agreement the loan is to be forgiven provided that there is at least 12,000 ounces of gold produced during the 12 month period which is subject to the 12.5% royalty.  A portion of the stockpiled minerals has been collateralized against the bridge funding provided to Blendcore LLC by Diamante for the processing of 12,000 ounces of gold with one processing line.\n\nThe royalty collected by Diamante is the percentage of the gross proceeds of the processing of the stock piled minerals through one processing line of the plant.  No fees, taxes, deductions, refining costs other than those third party costs charged in respect of the sale of the metals are included in the calculation of the royalty.\n\nPresident, Chad Ulansky of Diamante states \"We look forward to working with Blendcore LLC, the Master Contractor in re-starting one processing line of the plant at the Molejon gold mine. Our partners indicate that the plant should achieve monthly production of 1,000 ounces of gold within months.  The...