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Monumental Gold ( (TSE:MNRG) ) has shared an announcement.
Monumental Energy Corp. has entered into a definitive funding agreement with New Zealand Energy Corp. that will see Monumental finance NZEC’s share of appraisal and development workovers at the Waihapa-Ngaere oil and gas project in onshore Taranaki, New Zealand, in exchange for a royalty on net receipts from incremental production. Under the structure, Monumental will initially receive 75% of net receipts from each approved project until its costs are recovered, after which a continuing 25% royalty will apply, with the first project expected to start in the first quarter of 2026 subject to regulatory approvals, ministerial consent and operational readiness; the deal deepens Monumental’s exposure to producing hydrocarbon assets and strengthens its strategic partnership with NZEC, though it is classified as a related-party transaction because director Bill Treuren serves on both companies’ boards.
More about Monumental Gold
Monumental Energy Corp. is an exploration company focused on acquiring, exploring and developing properties in the critical and clean energy sector, while also investing in oil and gas projects. The company holds securities in New Zealand Energy Corp., has a call option and royalty agreement on the Copper Moki wells in New Zealand, an option to acquire a 75% interest in the Laguna cesium-lithium brine project in Chile, and a 2% net smelter return royalty on Summit Nanotech’s share of any future lithium production from the Salar de Turi Project.
Average Trading Volume: 68,820
Technical Sentiment Signal: Sell
Current Market Cap: C$2.76M
For an in-depth examination of MNRG stock, go to TipRanks’ Overview page.