iciHaiti - Economy : Eurasian Minerals sold its mining interests in Haiti

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iciHaiti - Economy : Eurasian Minerals sold its mining interests in Haiti
03/11/2015 08:11:35

Eurasian Minerals Inc. (EMX) that has conducted extensive drilling in 2010 in the North of Haiti https://www.haitilibre.com/en/news-1321-haiti-geology-gold-in-grand-bois.html sold its interests in Haiti to joint venture partner Newmont Ventures Limited (Newmont), a wholly owned subsidiary of Newmont Mining Corporation, based in Denver (Colorado),one of the largest gold producing companies in the world.

This transaction includes : the payment of $4 million cash to EMX ; EMX retains a 0.5% NSR (net smelter return) royalty on the 49 Research Permit applications covering the designated exploration areas. EMX retains the right to acquire any properties proposed to be abandoned or surrendered by Newmont.

The EMX-Newmont joint ventures covers six designated exploration areas along a 130 kilometer trend of northern Haiti's Massif du Nord mineral belt. Let's recall that since 2013, activities in the designated exploration areas have been limited to care and maintenance only.

IH/ iciHaiti