PERTH (miningweekly.com) – ASX-listed junior Dragon Mining has signed a definitive purchase agreement with TSX-listed Aurion Resources over its Kutuvuoma and Silasselka gold projects, in Finland.
Under the terms of the transaction, Dragon Mining would receive six-million shares in Aurion, with the Canadian precious metals explorer agreeing to spend €1-million on the projects over the next three years.
Dragon Mining would also retain a 3% net smelter royalty on any deposit mined by Aurion, or on any associated third-party within the project area.
Further, Aurion would make bonus payments of €2-million in cash or equivalent in shares at the definition of a measured and indicated resource of one-million ounces of gold. Further bonus payments of €1-million in cash or shares would also be made for the defining of every additional one-million ounces of gold equivalent material within the project area.