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An update from Battery Mineral Resources ( (TSE:BMR) ) is now available.
Battery Mineral Resources Corp. has completed the sale of its 100% indirect interest in four mining leases comprising the Gowganda silver tailings project in Northern Ontario to Nord Precious Metals Mining Inc. The deal strengthens BMR’s financial position while retaining upside through equity and royalty exposure to the project.
Under the amended definitive agreement, BMR receives $1 million in cash, Nord shares valued at $1.25 million, a 3% net smelter returns royalty, and deferred consideration totaling $3.75 million over three years. Portions of the deferred payments may be settled in Nord shares, and the transaction, conducted at arm’s length with no finder fees, remains subject to final TSX Venture Exchange approval.
More about Battery Mineral Resources
Battery Mineral Resources Corp. is a mining company focused on copper, gold and silver, operating the Punitaqui Mining Complex in Chile and holding North American mineral exploration assets. It also owns ESI Energy Services Inc. and aims to give shareholders exposure to copper and the electrification trend through cash flow, exploration and acquisitions in favorable jurisdictions.
Average Trading Volume: 47,378
Technical Sentiment Signal: Hold
Current Market Cap: C$17.22M
Learn more about BMR stock on TipRanks’ Stock Analysis page.