TSXV:KORE - Post Discussion
Post by
Betteryear2 on Nov 23, 2021 8:35am
Completes Milestone at Imperial Gold Project
Satisfies Spending Requirement pursuant to the Newmont Purchase Agreement
VANCOUVER, BC, Nov. 23, 2021 /PRNewswire/ - KORE Mining Ltd. (TSXV: KORE) (OTCQX: KOREF) ("KORE" or the "Company") is pleased to announce completion of a major milestone pursuant to the March 2017 Imperial Gold Project purchase agreement ("Purchase Agreement") between the Company and Goldcorp USA Inc., a wholly owned subsidiary of Newmont Corporation. KORE was required in the Purchase Agreement to spend over $5 million USD by the fifth anniversary of the Purchase Agreement. KORE surpassed this requirement in mid-2021. The only remaining requirement in the Purchase Agreement is payment of $1 million USD at the first gold pour.
Scott Trebilcock, KORE CEO commented, "KORE purchased the Imperial Gold Project to advance to production. With robust project economics alongside complete site restoration through backfilling, stringent environmental standards and the recently announced project ACES (November 17, 2021), the net benefit to stakeholders would be significant. The $5 million spent to date has been focused on exploration and building project support. We look forward to continuing to build upon the long history of gold mining in the Imperial region."
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