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Vanadium One Energy (TSXV:VONE) has announced that it has paid Chibougamau Independent Mines (TSXV:CBG) the cash payment of $150,000. As quoted in the press release: The Company has now fulfilled both payment terms of the option agreement and the Company will receive 100% interest in the Mont Sorcier Vanadium-Iron-Titanium project upon spending a minimum of …
Vanadium One Energy (TSXV:VONE) has announced that it has paid Chibougamau Independent Mines (TSXV:CBG) the cash payment of $150,000.
As quoted in the press release:
The Company has now fulfilled both payment terms of the option agreement and the Company will receive 100% interest in the Mont Sorcier Vanadium-Iron-Titanium project upon spending a minimum of $1 million of exploration in the first 24 months following signature of the agreement. Chibougamau Independent Mines will retain a 2% Gross Metal Royalty on all mineral production from the property.