Oriole has now executed share purchase and royalty agreements with its partner Lodos Maden Yatırım Sanayii ve Ticaret
() has concluded the conversion of its interest in the Muratdere copper-molybdenum-gold deposit to a 1.2% post-tax net smelter return (NSR) royalty.
Lodos, the new owner of the mine, which is located in Turkey, has continued to advance Muratdere towards mine-construction.
"We are pleased with the progress our partner has made in moving Muratdere towards mine-development,” said Bob Smeeton, the chief financial officer of Oriole.
“The conversion of our interest to a 1.2% NSR royalty gives us a valuable and potentially saleable asset. We would anticipate the net smelter return to be approximately 90% of the estimated US$400 million gross metal revenues over the sixteen-year mine life, making the 1.2% royalty a substantial asset for the group," he added.
NO INVESTMENT ADVICE
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 Oriole Resources PLC named herein, including the promotion by the Company of Oriole Resources PLC in any Content on the Site, the Company...
FOR OUR FULL DISCLAIMER CLICK HERE