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Flying Nickel Mining Corp. ( (TSE:CTV) ) has provided an update.
CleanTech Vanadium Mining Corp. has entered into a royalty agreement with Oracle Commodity Holding Corp., granting Oracle a 2% net smelter returns royalty on the Fluorspar Projects in the Illinois-Kentucky Fluorspar District. This agreement, pending approval from the TSX Venture Exchange, involves Oracle making non-refundable cash payments to CleanTech’s subsidiary, U.S. Fluorspar LLC, totaling $6 million over four years. The deal signifies a strategic financial arrangement that could enhance CleanTech’s liquidity while providing Oracle with a stake in the fluorspar market, potentially impacting stakeholders by aligning interests in the development of these mineral resources.
More about Flying Nickel Mining Corp.
Average Trading Volume: 222,576
Technical Sentiment Signal: Buy
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