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Millbank Mining Corp ( (TSE:HDRO) ) has provided an update.
Primary Hydrogen Corp. has entered into a definitive agreement to sell its 100% interest in the Arthur Lake Property to J4 Ventures Inc. The transaction involves J4 issuing 500,000 common shares and a cash payment of C$50,000 to Primary Hydrogen, with the latter retaining a 2% net smelter return royalty. The completion of the transaction is subject to several conditions, including regulatory approvals and financing by J4. If successful, J4 will be listed as a Tier 2 mining issuer on the TSX Venture Exchange, potentially enhancing its market position.
More about Millbank Mining Corp
Primary Hydrogen Corp. is focused on the exploration and development of natural hydrogen resources, with a significant presence in the U.S. and Canada. The company holds various projects including the Blakelock, Hopkins, Mary’s Harbour, Point Rosie, Crooked Amphibolite, Coquihalla, and Cogburn projects, as well as the Arthur Lake copper project in British Columbia. Additionally, Primary Hydrogen has an option to acquire a 75% interest in a hydrogen-REE project known as Wicheeda North, also in British Columbia.
Average Trading Volume: 389,651
Technical Sentiment Signal: Buy
Current Market Cap: C$21.32M
For an in-depth examination of HDRO stock, go to TipRanks’ Overview page.