Sparton Resources (TSE:SRI) has released an update.
Sparton Resources Inc. announced that Eldorado Gold Corporation has acquired a 75% stake in the Bruell gold project in Québec, with a revised agreement extending the option period to 75 business days for Eldorado to potentially buy the remaining 25% interest. The new terms include a $1.8 million cash payment and a 2% Net Smelter Return royalty, with Eldorado expressing positive sentiments about the project buoyed by high gold prices and promising technical results.
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