Great Quest Fertilizer Sells Taseko Project, Continues to Focus on Africa

Great Quest Fertilizer Ltd. (TSXV:GQ) reported that it has sold its Taseko exploration property in British Columbia, Canada to Amarc Resources Ltd. (TSXV:AHR). Amarc will pay Great Quest $400,000 for the property, while Great Quest will retain a 2 percent royalty, purchasable for $2 million at commencement of commercial production.

As quoted in the press release:

The Taseko property was a legacy project within the Company’s portfolio, that was under exploration by way of option agreement by Granite Creek Gold (GCX:TSXV). Granite Creek has elected to forego its option to continue work, and Great Quest has simultaneously sold the non-core project. A finder’s fee of 5% of the sale price is payable to Granite Creek.

Great Quest president and CEO, Jed Richardson, said:

We thank Amarc and Granite Creek for their attention in expediting this matter. The disposition of this BC project is in keeping with the Company’s focus on fertilizer in Africa and will contribute towards funding the environmental work for its phosphate production facility in Mali and scoping level engineering work for the proposed potash production facility in Botswana.

Click here to read the Great Quest Fertilizer Ltd. (TSXV:GQ) press release