Hayasa Metals (HAY.V) has entered into an agreement with Franco-Nevada (FNV, FNV.TO) and EMX Royalty Corp (EMX.V, EMX) to sell a 1.25% Net Smelter Royalty over its Urasar gold-copper project in Armenia.
The two royalty companies are coughing up US$1M (US$0.55M payable by Franco-Nevada and US$0.45M payable by EMX Royalty Corp) and both parties will end up with a 0.625% NSR on Urasar. Both royalty companies have also each been awarded 250,000 warrants which will allow them to acquire the corresponding amount of shares at a price of C$0.22 during an eighteen month period.
Disclosure: The author currently has no position in Hayasa Metals. Please read the disclaimer.
