Business
Orogen options the Baby Doe gold project to Premier Gold
Orogen options the Baby Doe gold project to Premier Gold Canada NewsWire VA...
About this update from Orogen Royalties Incorporation
[{"type":"text","content":"OrogenBabyDoeProject\n \n \n \n Orogen options the Baby Doe gold project to Premier Gold\n \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 \n Canada NewsWire\n \n \n VANCOUVER, BC, Oct. 8, 2020\n \n \n \n \n \n Baby Doe gold project optioned to Premier Gold Mines for a net smelter return\n \n \n royalty, cash, and exploration expenses\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 8, 2020\n \n /CNW/ - (TSXV: OGN) Orogen Royalties Inc. (\"Orogen\" or the \"Company\") is pleased to announce that it has optioned the Baby Doe gold property in\n \n Esmeralda County, Nevada\n \n to Au-Reka Gold Corporation, a subsidiary of Premier Gold Mines\n \n U.S.A.\n \n (\"Premier\"). Premier can earn up to a 100% interest in the Baby Doe gold project by making cash payments totaling\n \n US$1.0 million\n \n and spending\n \n US$10 million\n \n in exploration expenditures over an eight-year period. Once Premier has obtained a 100% interest, Orogen will retain a 3% net smelter return royalty (\"NSR\") on the Baby Doe claims and a 1% NSR on the Mustang claims.\n \n \n \"Orogen holds a portfolio of precious and base metal exploration projects generated from it's exploration pipeline that allows for organic royalty creation. It is the backbone of our business and provides our shareholders multiple opportunities for wealth creation,\" commented Orogen CEO\n \n Paddy Nicol\n \n . \"We are very pleased to have Premier Gold as a partner to advance exploration on our Baby Doe project.\"\n \n \n Premier can earn an initial 55% interest (the \"Initial Interest\") from Orogen over a four-year period by making cash payments of\n \n US$200,000\n \n to Orogen and completing\n \n US$5.0 million\n \n in exploration expenditures. Premier will also assume cash payment obligations of\n \n US$200,000\n \n to underlying vendors on the Mustang claims. Once Premier has earned its Initial Interest, Premier has a one-time, 60-day option to earn an additional 45% interest (the \"Bump-Up Option\") in the Baby Doe project by making a cash payment of\n \n US$300,000\n \n to O...