Sign In  |  Register  |  About San Anselmo  |  Contact Us

San Anselmo, CA
September 01, 2020 1:33pm
7-Day Forecast | Traffic
  • Search Hotels in San Anselmo

  • ROOMS:

EuroPacific Metals Announces Amended Earn-In Agreement for Barrancos Copper-Gold Project

EuroPacific Metals CEO Karim Rayani joined Steve Darling from Proactive to announce an amendment to the company's earn-in and partnership agreement with BMP Holding and Indice Crucial Lda for the Barrancos copper-gold project. This project comprises the Aparis Copper mine and the Lirio gold project, along with advanced exploration applications for the Bigorne and Vilariça copper-gold projects in northern Portugal.

Rayani explained that the revised agreement allows for more funds to be directed towards ground operations. Under the new terms, EuroPacific Metals will pay BMP €15,000 in cash, issue 500,000 ordinary shares, and provide 500,000 warrants at 7.5 cents over five years to secure a 60% stake in Indice Crucial Lda (ICL). An additional cash transfer of €15,000 within the next three months will increase their participation to 80%. To acquire the remaining 20% and achieve 100% ownership of ICL, EuroPacific Metals must pay BMP €800,000 within five years of obtaining a mining license, with half paid in cash and the other half in EuroPacific shares.

This new, more favorable deal structure aims to ensure that a greater portion of funds are allocated to on-ground exploration and development, enhancing the potential success of these promising copper-gold projects.

Contact Details

Proactive North America

+1 604-688-8158

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Copyright © 2010-2020 & California Media Partners, LLC. All rights reserved.