Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) has granted an option to purchase a 100% interest in its Guadalupe y Calvo gold-silver exploration project in Chihuahua, Mexico to Ridgestone Mining Inc.
Under the terms of the option agreement, Ridgestone has the right to acquire a 100% interest in the project through payments over a four-year period of US$1.5 million in cash and US$1.75 million in shares based on the 20 day volume weighted average price of the shares preceding each issuance, plus US$0.75 million in exploration expenditures, for a total commitment of US$4 million.
Ridgestone will grant a 2% net smelter return royalty (NSR) to Endeavour, with the option to buy back the 2% NSR for US$2 million prior to the commencement of commercial production.
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Endeavour Silver Grants Option to Purchase Guadalupe y Calvo Project in Chihuahua, Mexico to Ridgest
Such forward-looking statements and information herein include but are not limited to statements regarding the impact of suspension of mining operations, Endeavour’s anticipated performance in 2021, including production forecasts, cost estimates and metal price estima... - via crweworld.com
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