IN BRIEF: Sunrise Resources grants purchase option for Pioche project
28th Jun 2022 15:58
Sunrise Resources PLC - Macclesfield, England-based mineral project developer - Grants the US subsidiary of Spanish sepiolite producer Tolsa SA an exclusive 6-month option to purchase its wholly-owned Pioche Sopiolite project in Nevada, US. Purchase option payable for USD1.3 million in cash. Tolsa may also extend the option for a further 12 months on the payment of USD50,000. Sunrise would retain 3% net revenue royalty for a 25-year period from the start of commercial production at the site. An advance royalty of USD50,000 per year will be paid if production is not started within 5 years. Read More