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Aurion Resources Ltd. (TSXV:AU) announced that it has executed a definite purchase agreement with Dragon Mining Ltd. (ASX:DRA) under which it will acquire the Finland-based Kutuvuoma and Silasselka projects.
Aurion Resources Ltd. (TSXV:AU) announced that it has executed a definite purchase agreement with Dragon Mining Ltd. (ASX:DRA) under which it will acquire the Finland-based Kutuvuoma and Silasselka projects.
Kutuvuoma is a gold project and, while previous exploration at Silasselka focused on its vanadium potential.
As quoted in the press release:
In consideration, Dragon Mining will receive 6,000,000 Common Shares in Aurion and Aurion will expend EUR 1,000,000 on the Projects within 3 years. The Payment Schedule from the original Letter of Intent, as announced March 5, 2014, has been re-negotiated such that there is no firm work commitment in the first two years, other than maintaining the tenements in good standing, and the subsequent share issuances will be timed with the granting of final title to the various tenements comprising the projects, as further detailed below. Additionally, Aurion has the option to expend the entire work commitment on only one project if it so decides.
Click here to read the full Aurion Resources Ltd. (TSXV:AU) press release.
