Monteray Mining to monetise Burkina Faso gold assetAlso found this:
https://www.proactiveinvestors.com.au/companies/news/55327/monteray-mining-to-monetise-burkina-faso-gold-asset-55327.html
() has signed a further agreement with a Burkina Faso subsidiary of SEMAFO Inc (TSX, OMX:SMF) to grant SEMAFO a working right and option to acquire its Dabokuy gold permit.
Similar to the prior agreement signed with SEMAFO in March 2014, SEMAFO has the exclusive right to conduct exploration activities on the Dabokuy Permit in return for exploration funding and cash payments.
Under the agreement SEMAFO can earn an option to acquire a 100% interest in the Dabokuy permit via exploration spend of $200,000, and a cash payment of $70,000.
Upon SEMAFO acquiring a 100% interest in the Dabokuy permit, the Monteray is to be granted a Net Smelter Return royalty of 1%.
SEMAFO has the option to purchase the NSR prior to production at the Dabokuy permit for US$1 million.
These transactions will realise value from its Burkina Faso portfolio while the company continues its search for additional acquisition opportunities.