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Southern Empire Resources ( (TSE:SMP) ) has issued an announcement.
Southern Empire Resources Corp. has transferred its option for the Centauro Gold Project in Chihuahua, Mexico, to Fortuna Mining Corp. Through this agreement, Fortuna, via its subsidiary Monumental Minerals, can earn a 100% interest in the project by fulfilling certain financial and exploration commitments. This strategic move allows Southern Empire to benefit from potential payments totaling $975,000 and a 1% Net Smelter Return royalty if the project reaches commercial production. The transaction is subject to approval by the TSX Venture Exchange, and Southern Empire retains the right to reassume the option if Fortuna decides to drop it.
More about Southern Empire Resources
Southern Empire Resources Corp. operates in the mining industry, focusing on the exploration and development of mineral properties. The company is primarily involved in gold projects, with a market focus on expanding its mineral claims and enhancing its resource base.
YTD Price Performance: 73.33%
Average Trading Volume: 40,796
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.15M
Learn more about SMP stock on TipRanks’ Stock Analysis page.