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Symbol Data
Symbol
Currency
CVE:MKR
CAD
OTCMKTS:MKRIF
USD
Description
Melkior Resources Inc are a junior, project generator looking for gold with four exploration properties in Canada. They have a market capitalisation of ~C$4.04M which is a fall of roughly 15% over the last two years. As of 04/12/2023 they have no debt and ~C$1.46M cash. They have 34M shares outstanding and trade on the Canadian Venture Exchange and the over-the-counter markets.
Melkior has granted Agnico Eagle the right to earn-in up to a 75% interest.
Agnico Eagle has an option to earn a 50% interest in the Property in consideration for completing $10 million in exploration expenditures over a period of five years, $3 million during the first two years, which includes $1.5 million and a minimum of 3000 meters of drilling to be completed in the first year.
Agnico Eaglewill have the right to earn an additional 25% interest in the Property by incurring exploration expenditures of $100 million within the first five years of the formation of the Joint Venture. Any additional funds required beyond the $100 million will be contributed by the joint venture parties based on their proportional joint venture interests (75%/25%).
Barrick has an option to earn a 75% interest in the Property in consideration for completing $4 million in exploration expenditures over a period of five years. Barrick has a minimum commitment of $0.5 million during the first two years of the Option Period
Melkior has granted Agnico Eagle the right to earn-in up to a 75% interest.
Agnico Eagle has an option to earn a 50% interest in the Property in consideration for completing $10 million in exploration expenditures over a period of five years, $3 million during the first two years, which includes $1.5 million and a minimum of 3000 meters of drilling to be completed in the first year.
Agnico Eaglewill have the right to earn an additional 25% interest in the Property by incurring exploration expenditures of $100 million within the first five years of the formation of the Joint Venture. Any additional funds required beyond the $100 million will be contributed by the joint venture parties based on their proportional joint venture interests (75%/25%).
Barrick has an option to earn a 75% interest in the Property in consideration for completing $4 million in exploration expenditures over a period of five years. Barrick has a minimum commitment of $0.5 million during the first two years of the Option Period
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