GGL Resources (TSE:GGL) has released an update.
GGL Resources Corp. has announced a lucrative agreement with Teck American Incorporated, where Teck has optioned the Le Champ copper-molybdenum-gold porphyry target at GGL’s Gold Point Project in Nevada. The deal includes a series of escalating annual payments culminating in a potential $1,000,000 payout for project ownership and a $2,000,000 milestone payment on a production decision. GGL retains a 2% net smelter return, parts of which Teck can buy back, while still allowing GGL to focus on adjacent high-grade gold veins.
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