Veris Gold Enters Into A Toll Milling Agreement Wi Vancouver, BC – April 2, 2013 – Veris Gold Corp. (TSX: VG) (OTCQB: YNGFF) (Frankfurt Xetra Exchange: NG6A) is pleased to announce it has entered into a toll milling agreement with Klondex Gold and Silver Mining Company Ltd., a subsidiary of Klondex Mines Ltd. (TSX:KDX), to process ore from the Fire Creek Project at the Jerritt Canyon Mill located in Elko County, Nevada. The Jerritt Canyon Mill is operated by Veris Gold USA Inc., a wholly-owned subsidiary of Veris Gold Corp. (the “Company” or “Veris”).
Under the terms of the agreement with Klondex Mines Ltd. (“Klondex”), Veris will accept delivery of non-refractory gold ore produced from the Fire Creek Project, located nearby in Lander County, Nevada, to the Jerritt Canyon Mill for processing. Klondex will pay to Veris a toll milling fee of $148.50 (including trucking) per ton that will be adjusted on a quarterly basis to reflect any changes to input costs associated with processing the ore. The Klondex agreement includes an additional upfront pre-payment, to be deducted from future toll milling charges, to assist the Company in refurbishing the wet mill circuit at Jerritt Canyon.
This agreement is structured in a similar manner to the Atna Resources Inc. agreement announced on March 27, 2013 whereby all dore produced from the ore remains the property of Klondex throughout the process and the associated toll milling fee charged will be treated as a credit to Jerritt Canyon operating costs. The Company intends to partially re-open the wet milling facility at Jerritt Canyon in order to process this ore.
Nice to come back from vacation to some good news, onward and upward and best of forture to all !
https://www.verisgold.com/s/NewsReleases.asp?ReportID=578576&_Type=News-Releases&_Title=Veris-Gold-Enters-Into-A-Toll-Milling-Agreement-With-Klondex-Mines