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New Dimension agreement for Sierra Blanca NSR royalty
New Dimension Resources Ltd (3) (C:NDR)
Shares Issued 127,190,363
Last Close 10/16/2020 $0.09
Friday October 16 2020 - Property Agreement
The TSX Venture Exchange has accepted for filing documentation pertaining to a letter agreement dated April 29, 2020, between New Dimension Resources Ltd. and Iamgold Corp., whereby the company has been granted the option to acquire one-half (0.75 per cent) of the 1.5-per-cent underlying net smelter return (NSR) royalty on its Sierra Blanca gold-silver project, located in Santa Cruz province, Argentina.
As consideration for the NSR, the company is required to make a $750,000 payment to Iamgold prior to the commencement of commercial production.
As further consideration for entering into the agreement, the company will issue 500,000 common shares to Iamgold.
For further details, please refer to the company's news releases dated April 1, 2020, and Oct. 13, 2020.
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