Source:
Sun River has the option to acquire 100% of the Tailings Project from Minera CCM El Oro Jales (Xali Gold’s subsidiary) by making staged payments totaling US$500,000 (paid), bringing the tailings into commercial production by October 31, 2021 (now extended to December 31, 2023 as stated in the January 4, 2023 News Release), and paying the Company a 5% Net Profits Interest (“NPI”), Life of Mine royalty as well as the Municipality’s 8% NPI on production from the properties. Xali Gold will also receive the first $1.5M of the Municipality’s 8% NPI.
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