dollars equal to 6% of the invested amount, payable starting on the date that is 18 months from the closing date. In addition to the equity stake, Minco Gold shall receive an annual cash dividend in U.S. Class A shareholders will be provided a first priority security over the assets of El Olivar in the event that the final permits and approvals are not received. Under these warrant terms, Minco Gold will have the right to acquire an additional 600,000 shares for US$600,000.ĭuring the course of the six month term of the warrants issued as part of the private placement, El Olivar will work towards securing all necessary regulatory permits to proceed with construction of the processing plant. Each Unit consists of one Class A voting share and 1.5 Class A share purchase warrants, with each full warrant entitling the holder to purchase one additional Class A voting share for a period of six months from closing at a price of US$1.00 per share. Minco Gold subscribed for 400,000 Units of a private placement of 1,600,000 million Units priced at US$1.00 per Unit. Over the next 12-18 months, El Olivar plans to construct a mill and leach plant designed to process gold-bearing tailings from the Sol de Oro property and from other gold-bearing feed sources acquired throughout the region. (the "Company" or "Minco Gold") (TSX:MMM)(NYSE MKT:MGH)(FRANKFURT:MI5) is pleased to report that it has acquired an initial 5.9% per cent stake in El Olivar Imperial SAC ("El Olivar"), a privately held Peruvian corporation.Įl Olivar's principal asset is the wholly owned Planta Sol de Oro gold tailings and processing project located near Nasca, Peru, 445 kilometres south of Lima. VANCOUVER, BRITISH COLUMBIA-(Marketwired - Jan.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |