XGC is pushing forward big time! I agree, this company is one of the most undervalued.
Between El Oro and Victoria (Newfoundland), XGC has an extremely bright future for investors.
Xali Gold agreement for Victoria property
2021-08-03 20:27 ET - Property Agreement
The TSX Venture Exchange has accepted for expedited filing documentation pertaining to an option agreement dated July 12, 2021, between Xali Gold Corp. and optionors Dean Fraser and Terry Christopher, pursuant to which the company may acquire a 100-per-cent interest in 79 claims covering 1,975 hectares located in the central region of Newfoundland, known as the Victoria property (formerly the Valentine Lake property). In consideration, the company will make cash payments totalling $100,000, undertake $650,000 of work expenditures and issue a total of 3.5 million of shares all in stages over a three-year period as follows:
- On exchange approval, $25,000 cash and 500,000 shares;
- Year 1, $25,000 cash, 750,000 shares and $50,000 in work expenditures;
- Year 2, $25,000 cash, one million shares and $100,000 in work expenditures;
- Year 3, $25,000 cash, 1.25 million shares and $500,000 in work expenditures.
The optionors are entitled to a 2-per-cent net smelter return royalty that can be reduced to 1 per cent with the payment of $1-million at any time.