Eric Lemieux on $KTR July 3rd, 2020
Kintavar announced on June 29, 2020 that it had entered into 2 separate agreements with Gitennes Exploration Inc. (GIT-V) to option out the Rivière-à-l’Aigle (“RAL”) and the New Mosher properties in the Abitibi region of Québec. Gitennes may earn up to an 85% interest in the RAL and New Mosher properties located south of Chibougamau. To earn an initial 70% interests in the RAL and New Mosher properties, Gitennes shall make share and cash payments to Kintavar totalling $0.25M and incur exploration expenditures totalling $2.5M during a 4-year period. Gitennes can increase its interest to 85% on either property by either producing an inferred resource or conducting a PEA by September 30, 2025. Upon completion of an inferred resource Gitennes shall pay Kintavar $0.25M in cash or shares and pay an additional $0.75M in cash only on delivering a PEA. Gitennes shall grant to Kintavar a 1.5% NSR on each property with right to purchase 1% for $1M.
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