EuroPacific Metals Announces Amended Earn-In Agreement for Barrancos Copper-Gold Project
–News Direct–
EuroPacific Metals CEO Karim Rayani joined Steve Darling from Proactive to announce an amendment to the company's earn-in and partnership agreement with BMP Holding and Indice Crucial Lda for the Barrancos copper-gold project. This project comprises the Aparis Copper mine and the Lirio gold project, along with advanced exploration applications for the Bigorne and Vilaria copper-gold projects in northern Portugal.
Rayani explained that the revised agreement allows for more funds to be directed towards ground operations. Under the new terms, EuroPacific Metals will pay BMP 15,000 in cash, issue 500,000 ordinary shares, and provide 500,000 warrants at 7.5 cents over five years to secure a 60% stake in Indice Crucial Lda (ICL). An additional cash transfer of 15,000 within the next three months will increase their participation to 80%. To acquire the remaining 20% and achieve 100% ownership of ICL, EuroPacific Metals must pay BMP 800,000 within five years of obtaining a mining license, with half paid in cash and the other half in EuroPacific shares.
This new, more favorable deal structure aims to ensure that a greater portion of funds are allocated to on-ground exploration and development, enhancing the potential success of these promising copper-gold projects.
Contact Details
Proactive North America
+1 604-688-8158
na-editorial@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/europacific-metals-announces-amended-earn-in-agreement-for-barrancos-copper-gold-project-875012860
Europacific Metals Inc
COMTEX_453490443/2655/2024-06-07T12:08:49
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