Business
Royal Road Minerals to Acquire Colombian Exploration Assets from AngloGold Ashanti
Toronto, Ontario--(Newsfile Corp. - March 5, 2019) - Royal Road Minerals Limited (TSXV: RYR) (...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals to Acquire Colombian Exploration Assets from AngloGold AshantiRoyal Road Minerals to acquire over 2000 square kilometers of appraised and prioritized mineral exploration titles and title applications containing drill-ready targetsToronto, Ontario--(Newsfile Corp. - March 5, 2019) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce that it (the \"Purchaser\") has entered into a definitive stock purchase agreement (the \"Agreement\") with Compañía Kedahda Limited (the \"Seller\"), an affiliate of AngloGold Ashanti Limited (\"AngloGold Ashanti\"), to acquire Northern Colombia Holdings Limited (\"NC Holdings\"). NC Holdings in turn owns Exploraciones Northern Colombia SAS (\"ENC\") which owns a title package (collectively, the \"Titles\") comprised of mining concession agreements covering approximately 36,000 hectares of land, and the rights with respect to applications that have been made to acquire mining concessions over approximately 215,000 hectares of land, in prospective mineral belts in the Nariño, Cauca and Antioquia departments of Colombia (the \"Transaction\").Highlights of the TransactionHigh quality, Appraised and Prioritized Title Package. AngloGold Ashanti has elected to focus on its three advanced projects in Colombia and in Q2 of 2018, commenced a sales process for its exploration title packages outside of these three principal projects including the Titles as held under NC Holdings and ENC. These title packages are the result of systematic exploration, appraisal, prioritization and the purposeful reduction of land holdings by AngloGold Ashanti over the years since inception of its activities in Colombia in 2004. Increased Future Optionality. The Transaction will significantly increase the Company's portfolio of potentially Tier 1 exploration assets and provides the Company with various options for joint-venture and cash generating transactions in Colombia. Advanced Exploration Potential. The Transaction provides the Company with access to drill-ready potentially Tier 1 projects on granted concession agreements within its present area of interest and elsewhere in prospective mineral belts throughout Colombia.Figure 1To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4008/43208_figure1.jpg...