QC Copper and Gold announces amended terms for its previously announced Roger gold-copper project acquisition
QC Copper and Gold Inc (CVE:QCCU) (OTCMKTS:QCCUF) has told investors it is set to amend the terms of the previously announced acquisition of a 50% ownership interest in the 987-hectare advanced-stage Roger gold-copper exploration project in the Chibougamau district of Quebec.
The company is buying the stake from Pasofino Gold Ltd, while the other 50% interest remains with SOQUEM – a subsidiary of Investissement Québec.
In a statement on May 14, 2021, the firm said that on closing, it will now issue Pasofino $1 million in cash and issue 1.150 million company shares.
READ: QC Copper and Gold set to acquire a 50% stake in the Roger Gold-Copper project in Quebec
A further 4.350 million shares may be issued to Pasofino if, within six months, a new NI 43-101 technical report is produced on the project, which has a calculation equal to or greater than both the aggregate gold equivalent ounces or gold only ounces referred to in the technical report of October 2018, it added.
On April 5, 2021, when the deal was first announced, QC Copper said that, upon closing, it would issue Pasofino $1 million in cash and 5.5 million shares, representing a total consideration paid to Pasofino, as at QC Copper’s April 2, 2021, closing share price, of $2 million.
Stephen Stewart, QC Copper’s CEO, said in a statement: “These are favourable terms for this strategic asset acquisition that fits into our vision for a consolidated Chibougamau District. The Roger is a sizable NI 43-101 pit constrained gold-copper resource with excellent expansion potential. It is also about 10 km from the property boundary of our flagship Opemiska project.”
“The Opemiska and its ongoing drill program remains our core focus however we felt compelled to act when Roger opportunity presented itself. When shareholders evaluate this pit constrained resource relative to the consideration paid, I believe they will see the value of this accretive acquisition,” Stewart added.
The 2018 updated estimate showed an indicated resource of 10,900,000 metric tonnes at a grade of 0.85 grams per ton (g/t) of gold, 0.80 g/t of silver and 0.06% of copper for a total of 333,000 ounces of gold-equivalent, using a cut-off grade of 0.45 g/t gold-equivalent.
The lower confidence inferred resource was estimated at 6,569,000 metric tonnes at a grade of 0.75 g/t of gold, 1.18 g/t of silver and 0.11% of copper for a total of 202,000 ounces of gold equivalent.
Contact the author at [email protected]
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/949538/qc-copper-and-gold-announces-amended-terms-for-its-previously-announced-roger-gold-copper-project-acquisition-949538.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
