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Stellar AfricaGold ( (TSE:SPX) ) has issued an update.
Stellar AfricaGold Inc. has successfully renewed the Tichka Est permits in Morocco through an agreement with the Office National des Hydrocarbures et des Mines du Maroc (ONHYM). The agreement requires Stellar to invest US$2,239,000 over three years to secure an 85% interest in the permits, while ONHYM retains a 15% free carried interest and a 3% Net Smelter Return royalty. This renewal allows Stellar to continue its exploration in the Tichka Est Gold Project, which comprises seven permits covering 82 square kilometers in the High Atlas Mountain region. Significant gold mineralization has been identified, particularly in the B Zone structure, and Stellar plans to expand its exploration efforts in the largely unexplored area. This development is crucial for Stellar’s strategic expansion and strengthens its position in the gold exploration sector.
More about Stellar AfricaGold
Stellar AfricaGold Inc. is a Canadian precious metal exploration company listed on the TSX Venture Exchange, Tradegate Exchange, and Frankfurt Stock Exchange. With its head office in Vancouver and a representative office in Casablanca, Stellar focuses on its gold discovery at the Tichka Est Gold Project in Morocco and an early-stage exploration project in Côte d’Ivoire.
YTD Price Performance: 8.33%
Average Trading Volume: 50,121
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$1.82M
Find detailed analytics on SPX stock on TipRanks’ Stock Analysis page.
