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Mako Mining agrees to buy Nevada’s Mt. Hamilton gold-silver project for $40 million, subject to approvals.
Mako Mining Corp. has agreed to acquire Nevada’s Mt.
Hamilton Gold-Silver Project from Sailfish Royalty Corp. through its subsidiary, with the deal pending TSX Venture Exchange and shareholder approvals.
Mako will grant Sailfish a five-year gold stream and a 2% net smelter return royalty, with monthly gold deliveries of about 341.7 troy ounces at 20% of the London Bullion Market Association PM Fix price, capped between $2,700 and $3,700 per ounce.
After the stream, Sailfish will receive the 2% NSR royalty for the mine’s life.
The $40 million transaction is funded by Sailfish, which holds legal title as nominee until closing.
If the deal fails, Mako will repay Sailfish and transfer rights to Wexford Capital LP.
A technical report on the project has been filed.
Mako Mining está de acuerdo en comprar el Monte de Nevada. Proyecto de oro y plata Hamilton por $40 millones, sujeto a aprobaciones.