viewGlobal Energy Metals Corp

Global Energy Metals updates on Nevada cobalt project option

The TSX venture exchange had accepted for filing the option agreement with Nevada Sunrise

Businessmen handshake
The agreement is dated January 15 this year

Global Energy Metals Corp (CSE:GEMC) said the TSX venture has accepted for filing the option agreement regarding two prospective cobalt projects in Nevada.

Nevada Sunrise Gold Corp has granted the company the option to acquire an 85% undivided interest in the Lovelock cobalt mine and the Treasure Box project in Churchill county in Nevada.

The consideration, over two years, is US$75,000 in cash, as well as over 1.72 million shares at a deemed price of 15 cents each and over 1.6 million reimbursement shares to Nevada. These are to reimburse share payments made according to the underlying option held by Primus Resources. Reimbursement shares are subject to a floor price of five cents.

Primus will retain a 2% net smelter return (NSR) royalty, with the company and Nevada, as joint venture partners, having the right to purchase one-half (1%) for 10 years from the effective date of the Primus underlying option for US$1.5 million, said Global Energy Metals.

Significantly, the Nevada assets are drill ready and eight diamond drill targets have been identified, in addition to geological mapping, chip and channel sampling and geophysics, GEMC has said previously.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter @Gile74

Quick facts: Global Energy Metals Corp


Price: 0.215 CAD

Market Cap: $5.81 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...


Global Energy Metals to have 'strong wave of supportive sentiment' when...

Mining Capital's Alastair Ford says it's good to see Global Energy Metals (CVE:GEMC) (OTCMKTS:GBLEF) raising some cash which will see them through the current uncertainty and then they'll be able to 'get down and do some serious exploration work on the ground mainly in North America'.  ''This...

on 20/3/20

2 min read