|
| Home : Chieftain Metals Signs US$60M Gold and Silver Purchase Agreement With Royal Gold |
|
Dec 22
2011 |
Chieftain Metals Signs US$60M Gold and Silver Purchase Agreement With Royal Gold |
|
TORONTO, ONTARIO--(Marketwire - Dec. 22, 2011) - Chieftain Metals Inc. ("Chieftain" or the "Company") (TSX:CFB) is pleased to announce it has entered into a gold and silver purchase transaction with a subsidiary of Denver-based corporation Royal Gold, Inc. ("Royal Gold") (NASDAQ:RGLD)(TSX:RGL) to sell a portion of the precious metals stream expected to be produced at the Tulsequah Chief mine. Chieftain will receive an initial, up-front advance payment from Royal Gold for US$10-million following closing, with additional advance payments of up to US$50-million for the project build (upon certain conditions being met) that will be pro-rated during the development of the project. |
|
|
|
| Source:http://www.marketwire.com/mw/release.do?id=1601678&sourceType=3 |
| |
|
Related News
|
» Olivut Closes Private Placement of Flow-Through Shares and Common Shares for Gross Proceeds of $2,198,800
» Crisis of Christmas: Will Your Gift Make It In Time?
|
|
|
