Tertiary Minerals plc is pleased to announce that it has accepted a binding offer from Aurion Resources Ltd (“Aurion”) for the purchase of Tertiary’s royalty interests in the Kaaresselkä and Kiekerömaa Gold Projects in Finland.
The consideration payable on closing of a formal sale and purchase agreement is:
- CAD$200,000, to be paid in cash, and
- The issue to Tertiary of 83,333 common shares in Aurion Resources Ltd (the “Consideration Shares”).
The Consideration Shares will be subject to a statutory four month and one day hold period from closing. The agreement is also subject to acceptance by the TSX Venture Exchange.
The closing price of Aurion’s shares on the TSX.V exchange on Friday 5 August 2022 was CAD$0.68.
Commenting today, Executive Chairman Patrick Cheetham said:
“The proceeds of the sale will be applied to the Company’s exploration projects in Nevada, where we are awaiting assay results from trenching at the Brunton Pass Copper Project, and in Zambia where a successful drilling programme was recently completed at the Jacks Copper Project. The Company is building an attractive portfolio of exploration projects in Zambia and we are pleased to be generating these additional exploration funds from internal resources. We are also pleased to become a shareholder in Aurion once again at a time when its interests in the Risti and Helmi gold discoveries in Finland are delivering exciting exploration results close to Rupert Resources’ 4Moz Ikkari gold discovery.”
For more information please contact:
|Tertiary Minerals plc:|
|Patrick Cheetham, Executive Chairman||+44 (0) 1625 838 679|
|SP Angel Corporate Finance LLP
Nominated Adviser and Broker
|Richard Morrison||+44 (0) 203 470 0470|
|Peterhouse Capital Limited
|Lucy Williams||+ 44 (0) 207 469 0930|