Golden Arrow Options Third Project in Argentina
Golden Arrow Resources (OTCQB:GARWF) has signed a definitive option agreement with Latin Metals Inc. for its Huachi copper-gold property in San Juan Province, Argentina. The agreement allows Latin Metals to acquire up to 100% interest in the 3,500-hectare property.
Under the agreement terms, Latin Metals can acquire an initial 75% interest by completing $1 million in exploration expenditures and $1 million in cash payments over four years. Additionally, Latin Metals has a Top-Up Right to acquire the remaining 25% interest for $2 million within 90 days of earning the initial stake. If not exercised, the parties will form a joint venture, with interests convertible to a 1% NSR royalty if diluted below 15%.
Golden Arrow Resources (OTCQB:GARWF) ha firmato un accordo di opzione definitivo con Latin Metals Inc. per la sua proprietà Huachi di rame e oro nella provincia di San Juan, Argentina. L'accordo consente a Latin Metals di acquisire fino al 100% della proprietà dell'area di 3.500 ettari.
Secondo i termini dell'accordo, Latin Metals può acquisire un interesse iniziale del 75% completando spese di esplorazione per 1 milione di dollari e pagamenti in contanti per 1 milione di dollari nell'arco di quattro anni. Inoltre, Latin Metals ha un diritto di integrazione per acquisire il restante 25% per 2 milioni di dollari entro 90 giorni dal raggiungimento della quota iniziale. Se questo diritto non viene esercitato, le parti formeranno una joint venture, con interessi convertibili in una royalty NSR dell'1% se diluiti al di sotto del 15%.
Golden Arrow Resources (OTCQB:GARWF) ha firmado un acuerdo de opción definitivo con Latin Metals Inc. para su propiedad Huachi de cobre y oro en la provincia de San Juan, Argentina. El acuerdo permite a Latin Metals adquirir hasta el 100% de interés en la propiedad de 3,500 hectáreas.
Bajo los términos del acuerdo, Latin Metals puede adquirir un interés inicial del 75% completando gastos de exploración por 1 millón de dólares y pagos en efectivo por 1 millón de dólares durante cuatro años. Además, Latin Metals tiene un derecho de complemento para adquirir el 25% restante por 2 millones de dólares dentro de los 90 días posteriores a la obtención de la participación inicial. Si no se ejerce este derecho, las partes formarán una empresa conjunta, con intereses convertibles en una regalía NSR del 1% si se diluyen por debajo del 15%.
Golden Arrow Resources (OTCQB:GARWF)는 아르헨티나 산후안 주에 위치한 Huachi 구리-금 광산 부동산에 대해 Latin Metals Inc.와 최종 옵션 계약을 체결했습니다. 이 계약을 통해 Latin Metals는 3,500헥타르 부동산에 대한 100% 지분까지 취득할 수 있습니다.
계약 조건에 따라 Latin Metals는 4년 동안 100만 달러 탐사비용과 100만 달러 현금 지급을 완료하여 초기 75% 지분을 취득할 수 있습니다. 또한 Latin Metals는 초기 지분 취득 후 90일 이내에 200만 달러를 지불하여 나머지 25% 지분을 추가로 취득할 수 있는 권리(Top-Up Right)를 보유하고 있습니다. 이 권리를 행사하지 않으면 양사는 합작 투자를 구성하며, 지분이 15% 미만으로 희석될 경우 1% NSR 로열티로 전환 가능합니다.
Golden Arrow Resources (OTCQB:GARWF) a signé un accord d'option définitif avec Latin Metals Inc. pour sa propriété Huachi cuivre-or dans la province de San Juan, en Argentine. Cet accord permet à Latin Metals d'acquérir jusqu'à 100% d'intérêt dans la propriété de 3 500 hectares.
Selon les termes de l'accord, Latin Metals peut acquérir une participation initiale de 75% en réalisant 1 million de dollars de dépenses d'exploration et 1 million de dollars de paiements en espèces sur quatre ans. De plus, Latin Metals dispose d'un droit de complément pour acquérir les 25% restants pour 2 millions de dollars dans les 90 jours suivant l'acquisition de la participation initiale. Si ce droit n'est pas exercé, les parties formeront une coentreprise, avec des intérêts convertibles en redevance NSR de 1% si dilués en dessous de 15%.
Golden Arrow Resources (OTCQB:GARWF) hat eine endgültige Optionsvereinbarung mit Latin Metals Inc. für das Huachi Kupfer-Gold-Gebiet in der Provinz San Juan, Argentinien, unterzeichnet. Die Vereinbarung erlaubt Latin Metals, bis zu 100% Beteiligung an dem 3.500 Hektar großen Grundstück zu erwerben.
Gemäß den Bedingungen der Vereinbarung kann Latin Metals eine anfängliche 75% Beteiligung durch Durchführung von Explorationsausgaben in Höhe von 1 Million US-Dollar und Bargeldzahlungen in Höhe von 1 Million US-Dollar über vier Jahre erwerben. Zusätzlich hat Latin Metals ein Nachkaufrecht, um die verbleibenden 25% Beteiligung für 2 Millionen US-Dollar innerhalb von 90 Tagen nach Erwerb der anfänglichen Beteiligung zu erwerben. Wird dieses Recht nicht ausgeübt, gründen die Parteien ein Joint Venture, wobei Beteiligungen in eine 1% NSR-Royalty umgewandelt werden können, falls sie unter 15% verwässert werden.
- Potential for significant cash payments totaling $3 million
- Strategic advancement of non-core assets through third option agreement
- Exploration costs to be funded by Latin Metals
- Retains 25% interest if Top-Up Right not exercised
- Long timeline for full payment completion (over 4 years)
- Payments and work commitments contingent on environmental permit approval
- Risk of dilution below 15% in joint venture scenario
TSX Venture Exchange (TSX-V): GRG
Frankfurt Stock Exchange (FSE): G6A
OTCQB Venture Market (OTCQB): GARWF
CORRECTION FROM SOURCE: An incorrect total for the Cash Payments column in Table 1 was used in the previous version of this release and has been corrected herein.
Golden Arrow President & CEO Nikolaos Cacos commented, "This agreement marks the third strategic option agreement we have signed in recent years as part of our efforts to advance our non-core assets. Success on any of these projects is good for Golden Arrow and our shareholders. Huachi now joins our Mogote Copper-Gold project that is under option to Mogotes Metals as part of their Filo Sur project, and our Caballos Copper-Gold project that is under option to Hanaq Argentina S.A."
Definitive Option Terms
Latin Metals has the right to acquire an initial
Should Latin Metals choose not to exercise the Top-Up Right, the parties will form a joint venture ("JV") with Latin Metals holding
Work commitments and cash payments commence on the first anniversary of approval of the environmental permit (Declaración de Impacto Ambiental or "DIA"), approving the start of exploration activities including drilling (the "Commencement Date").
Table 1. Commercial Terms for the Huachi Property,
Anniversary Following the | Work Commitment ($US) | Cash Payments ($US) | Vesting |
First | - | ||
Second | - | ||
Third | - | ||
Fourth | 75 % | ||
Top-Up Right | - | 25 % | |
Total | 100 % |
About Golden Arrow:
Golden Arrow Resources Corporation is a mining exploration company with a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits.
Golden Arrow is actively exploring its flagship property, the advanced San Pietro iron oxide-copper-gold-cobalt project in
The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in
For additional details, please see the Company's website www.goldenarrowresources.com and its filings on www.sedarplus.ca.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
_______________________________
Mr. Nikolaos Cacos
President and CEO
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the terms of the Definitive Agreement, the exercise of the Option and the timing thereof; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company are forward-looking statements.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with obtaining necessary regulatory approvals; risks associated with technical difficulties in connection with exploration and mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws.
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SOURCE Golden Arrow Resources Corporation
FAQ
What are the terms of Golden Arrow Resources' (GARWF) Huachi property option agreement with Latin Metals?
How large is the Huachi copper-gold property and where is it located?
What happens if Latin Metals doesn't exercise the Top-Up Right for Golden Arrow's Huachi property?
How many option agreements does Golden Arrow Resources now have for its Argentina properties?
When do work commitments and cash payments begin for the Huachi property option?
