Khalkos set to consolidate position at Malartic camp
Abitibi-focused mining group Khalkos Inc (CVE:KAS) is set to buy 100% of two properties next to the Malartic property to consolidate its position in the area.
Khalkos has sealed a first agreement to acquire the Cadillac property for 100,000 shares and $5,000 in cash.
The seller will retain a 1% net smelter royalty (NSR), half of which may be redeemed for $500,000.
Cadillac is adjacent-west to Malartic and comprises two claims covering an area of 84 hectares, which are adjacent to those recently acquired from Globex Mining Enterprises Inc.
A second deal is for four claims in the Malartic township, in return for the firm issuing 100,000 shares. The four claims are adjacent to the Malartic property (north-central) and they represent an additional 166 hectares.
Again, the seller will keep a 1% NSR royalty, half of which may be redeemed for a consideration of $500,000, Khalkos said.
“In less than three years, Khalkos was able to establish itself as a major player in the world-class Malartic mining camp. The vision and the strategy put in place by Khalkos have brought together, under one property, 89 adjacent mining claims on one of the most favorable geological structures in Canada,” said Robert Gagnon, president of Khalkos.
Shares in Toronto were unchanged at $0.1555.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/177328/khalkos-set-to-consolidate-position-at-malartic-camp-177328.html
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