Business
Royal Gold Completes Strategic Alliance With Taranis Resources
Royal Gold Completes Strategic Alliance With Taranis Resources.
About this update from Red Lake Gold Inc
[{"type":"text","content":"\n\n\n\n\nDENVER, Nov. 10 /CNW/ -- ROYAL GOLD, INC.\n(Nasdaq: RGLD; TSX: RGL), a leading precious metals royalty company, today\nannounced the completion of a strategic alliance with Taranis Resources Inc.\n(\"Taranis\") (TSX.V: TRO), regarding its exploration program in Finland. Royal\nGold also entered into an Exploration and Earn-In Agreement with Taranis on\nits Kettukuusikko property in Lapland, Finland.\nRoyal Gold obtained a 2% net smelter return (\"NSR\") royalty and future\nearn-in rights on Taranis' exploration activities in Finland, in exchange for\na Cdn$375,000 investment in Taranis' stock and warrants. Taranis has a three-\nyear period in which to expend the funds for general exploration operations in\nFinland.\nRoyal Gold will also fund US$500,000 for exploration work on the\nKettukuusikko property, in Lapland, Finland, in exchange for a 2% NSR royalty\non the property. Royal Gold has an option to fund an additional US$600,000,\nin exchange for a 51% joint venture interest in the Kettukuusikko project.\nRoyal Gold also has an option to earn an additional 24% joint venture interest\n(75% joint venture interest in total) by funding 100% of the cost of the\nKettukuusikko project through completion of a feasibility study.\nTony Jensen, Royal Gold's President and Chief Operating Officer, stated,\n\"We are pleased to add the prospective Kettukuusikko property to our\nexploration portfolio. This transaction is an example of our strategy of\nemphasizing exploration partnerships. Partnering with a skilled explorer such\nas Taranis will give the Company exposure to this developing gold region.\"\n\nTaranis is a Colorado-based resource company actively pursuing multiple\ngold and silver projects in Nevada and Finland.\n\nRoyal Gold is a precious metals royalty company engaging in the\nacquisition and management of precious metals royalty interests. Royal Gold\nis publicly traded on the NASDAQ National Market System, under the symbol\n\"RGLD\" and on the Toronto Stock Exchange, under the symbol \"RGL.\" The\nCompany's web page is located at www.royalgold.com.\n\n\n","length":2137,"tagName":"div"}]