$SSVR updates lease agreement Today Summa Silver ($SSVR.v $SSVRF) announced it is amending the lease agreements for the high-grade Mogollon Silver Project (New Mexico).
$SSVR lease claims at the Mogollon property for at least 10 years during which $SSVR will pay the property owners $ 99,067 annually.
The previous lease agreements provided the property owners with a 4% production royalty and did not provide $SSVR with a buy-back option. However, $SSVR now has the ability to repurchase 2% of that royalty on equitable terms for all parties.
On this $SSVR's CEO said that "These amended lease agreements represent a strong step towards reducing potential production royalty burdens"
Pursuant on the ammendments $SSVR will also issue 27,400 common shares @ $1.24/share.
More here: https://finance.yahoo.com/news/summa-silver-announces-amended-lease-113500623.html
$SSVR @ $1.32
MC $101.419M