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The latest announcement is out from ProAm Explorations ( (TSE:PMX) ).
ProAm Explorations Corporation has secured the right to enter into an option agreement to acquire a 100% interest in the Golden Ridge Gold Project in western New Brunswick, an advanced-stage gold exploration property with a historic inferred resource of 520,200 ounces of gold at 0.91 g/t. The project, supported by extensive historical work including 16,001 metres of drilling and evidence of near-surface, open-pittable gold mineralization, is seen by management as a potentially transformational asset, backed by favourable current gold prices; under the proposed terms, ProAm will make staged cash payments totaling CAD $1.44 million, fund at least CAD $250,000 in exploration expenditures, and assume a 2% NSR royalty with a buyback option, signaling a strategic move to build scale and enhance its growth profile in the gold sector.
More about ProAm Explorations
ProAm Explorations Corporation is a Vancouver-based mineral exploration company listed on the TSX Venture Exchange, focused on identifying and advancing gold projects, with a geographic emphasis on Canadian assets such as properties in New Brunswick.
Average Trading Volume: 63,407
Technical Sentiment Signal: Hold
Current Market Cap: C$1.08M
Find detailed analytics on PMX stock on TipRanks’ Stock Analysis page.