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E79 Gold Mines Exercises Option on Mountain Home Project

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The latest announcement is out from E79 Gold Mines Limited ( (AU:E79) ).

E79 Gold Mines Ltd has exercised its option over the Mountain Home Project in the Northern Territory, a move facilitated through an agreement with NT Minerals Limited’s subsidiary, Redbank Operations Pty Ltd. The option rights were assigned to Iguana Minerals Pty Ltd, which has now delivered an Option Exercise Notice. As part of the agreement, NT Minerals has agreed to reduce the Net Smelter Return (NSR) to 1% capped at $1.5 million, with Iguana having the first right to purchase the NSR for $1 million. This development is formalized through a Royalty Deed executed by the parties.

More about E79 Gold Mines Limited

YTD Price Performance: 80.0%

Average Trading Volume: 3,116,878

Technical Sentiment Signal: Hold

See more data about E79 stock on TipRanks’ Stock Analysis page.

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