Alexandria Minerals Corp ALXDF

RE:I think more NRs will soon be released.........

[goldhunter11]

GoldOpp,
I was expecting an NR from AZX on this sale of the 2%NSR to Metalla  as soon as this NR was released by MTA. This was an opportunity to communicate with shareholders on a $1/4M flowing into its kitty. Sale of the two non-core projects in Manitoba would bring in a lot more money, but management would need some cash to keep the lights on and to pay the staff.

It would be worth realeasing an NR for this (small) item just to signal that management is still alive and ready to issue the updated RE by mid May (tomorrow will be 15 May...mid May, say you and I?)
GH
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goldopportunity wrote:

Metalla Adds Royalty on Agnico Eagle’s Akasaba West Development Project

VANCOUVER, British Columbia, May 14, 2018 (GLOBE NEWSWIRE) -- Metalla Royalty & Streaming Ltd. (“Metalla” or the “Company”) (TSXV:MTA) (OTCQX:MTAFF) (FRANKFURT:X9CP) is pleased to announce that it has acquired a 2% net smelter return royalty on the Akasaba West Property (the “Royalty”) from Alexandria Minerals Corporation (the “Seller”) pursuant to a royalty purchase and sale agreement dated May 11, 2018 (the “Agreement”). Pursuant to the Agreement, Metalla and the Seller have entered into an assignment and assumption agreement pursuant to which the Royalty has been transferred from the Seller to Metalla. Unless otherwise indicated, all dollar amounts are expressed in Canadian dollars.

The Akasaba West Property is a gold-copper deposit located in the Bourlamaque and Louvicourt Townships, Val d’Or, Quebec. The Akasaba West Property is owned and operated by Agnico Eagle Mines Limited (“Agnico”). Agnico (TSX:AEM) acquired the project from the Seller in 2014 and has continued previous permitting and development activities, with a view to commencing mining activities in 2020. The Royalty has been acquired for an aggregate purchase price of $250,000 in cash. Agnico will maintain its buy-back right of 1% for $7 million, and the Royalty will be payable after gold production on the claims comprising the property has exceeded 210,000 ounces.

Mr. Brett Heath, President and Chief Executive Officer of Metalla commented, “We view this royalty as a great option on further exploration success at the Akasaba West Property from one of the world’s top gold producers. The property sits in the famous Cadillac-Larder Lake Fault zone which has produced some of Canada’s most well-known mines such as Agnico’s Canadian Malartic, Goldex, LaRonde, and Lapa mines, and IAMGOLD’s Westwood Gold mine. Further, we will be adding another top-tier counterparty in Agnico Eagle to the portfolio.”

AKASABA WEST PROPERTY

Agnico acquired the Akasaba West gold-copper deposit in 2014. Located less than 30 km from Goldex, the deposit could create flexibility and synergies for Agnico’s operations in the Abitibi region by using extra milling capacity at both Goldex and LaRonde, while reducing overall unit costs. According to Agnico, the Akasaba West Property currently hosts probable gold reserves⁽¹⁾ of approximately 145,000 ounces (5.2 million tonnes at 0.87 g/t gold and 0.49% copper) and an indicated gold resource of approximately 49,000 ounces (2.2 million tonnes at 0.70 g/t gold and 0.41% copper) as of December 31, 2017.

The public hearing process has been completed at the Akasaba West Property, and permitting activities are expected to continue through early 2018. Based on Agnico’s internal technical study, the Akasaba West Property deposit has the potential to produce approximately 20,000 to 25,000 ounces of gold and 8.5 to 10.0 million pounds of copper per year for the first four to five years. The average total cash costs on a by-product basis to produce gold are estimated to be approximately US$400 per ounce. Capital costs (including closure costs) are estimated to be approximately $50 million. Mining activities are expected to begin on the project in 2020.

The Seller filed a National Instrument 43-101 Technical Report⁽²⁾, dated March 1, 2013 (the “Technical Report”), stating that the Akasaba West Zone Pit had an inferred resource of 14,863,740 tonnes of 0.69 gpt gold containing 332,074 ounces and 0.41% copper containing 61,255,885 Kilograms.

1. See Agnico Eagle website at: https://www.agnicoeagle.com/English/operations-and-development-projects/operations/goldex/default.aspx
2. The Technical Report – titled “NI 43-101 Technical Report on the Akasaba Project – Province of Quebec, Canada – NS: 32C/03 & 32C/04” – is filed on the Seller’s SEDAR profile (report filed on March 11, 2013). Agnico has project information on their website (www.agnicoeagle.com) and further information on the Akasaba West Property has been filed on Agnico’s SEDAR profile.

No brokerage or finder’s fees are payable in association with the transaction. 

ABOUT METALLA

Metalla was created for the purpose of providing shareholders with leveraged precious metal exposure by acquiring royalties and streams. Our goal is to increase share value by accumulating a diversified portfolio of royalties and streams with attractive returns. Our strong foundation of current and future cash-generating asset base, combined with an experienced team gives Metalla a path to become one of the leading gold and silver companies for the next commodities cycle. 

For further information, please visit our website at www.metallaroyalty.com

ON BEHALF OF METALLA ROYALTY & STREAMING LTD.

“Brett Heath”

President and CEO


goldopp