Perseverance Metals Increases Land Holdings on the Voyageur Ni-Cu-PGE Project, Michigan
Perseverance Metals optioned 240 acres of mineral rights in Houghton County, Michigan, expanding its Voyageur Ni-Cu-PGE project footprint near the recently discovered Osprey nickel-copper intrusion. The option calls for staged cash and share payments totaling roughly US$325,000 over six years, with up to 512,700 Consideration Shares issuable at a minimum deemed price of C$0.61. On exercise, the optionor receives a 3% net smelter return royalty, which Perseverance can cut to 1.5% for US$1M-$2M depending on project stage. CEO Michael J.
Key figures
- Acres acquired
- 240
- Nsr royalty pct
- 3% reducible to 1.5%
- Option term years
- 6
- Max consideration shares
- 512700
- Min deemed share price cad
- C$0.61
- Nsr buydown cost pre pea usd
- 1000000
- Nsr buydown cost post pea usd
- 2000000
AI analysis
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