TSXV:OGN) Orogen Royalties Inc. is pleased to announce it has signed two agreements with Meridian Gold Company a wholly owned subsidiary of Yamana Gold Inc., for the option of the Raven and Callaghan gold projects and a three-year partner-funded generative exploration alliance in NevadaUnder the terms of the Option Agreement, Meridian can earn up to a 100% interest in the Raven and Callaghan projects by making cash …
TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. (“Orogen” or the “Company”) is pleased to announce it has signed two agreements with Meridian Gold Company (“Meridian”) a wholly owned subsidiary of Yamana Gold Inc., for the option of the Raven and Callaghan gold projects (the “Option Agreement”) and a three-year partner-funded generative exploration alliance (the “Alliance Agreement”) in Nevada
Under the terms of the Option Agreement, Meridian can earn up to a 100% interest in the Raven and Callaghan projects by making cash payments totaling US$300,000 and exploration expenditures of US$4.625 million over a five-year period. Orogen will retain a 2.5% net smelter return (“NSR”) royalty on the Raven Project and a 3% NSR royalty on the Callaghan project, with a buy-down right up to 1.5% on each NSR for up to US$10 million.
Under the terms of the Alliance Agreement, generative exploration will be conducted within a 4,000 square kilometre area of interest (“AOI”) in Nevada. Projects staked within the AOI and selected by Meridian will be subject to similar earn-in...
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