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Chieftain Metals’ Gold, Silver Streaming Agreement Terminated
Dec. 23, 2014 09:30AM PST
Gold InvestingChieftain Metals Corp. (TSXV:CFB) announced the termination of its gold and silver streaming agreement with Royal Gold Inc. (TSX:RGL,NYSEMKT:NASDAQ:RGLD) and said it must now repay a December 2011 US$10-million advance.
Chieftain Metals Corp. (TSXV:CFB) announced the termination of its gold and silver streaming agreement with Royal Gold Inc. (TSX:RGL,NYSEMKT:NASDAQ:RGLD) and said it must now repay a December 2011 US$10-million advance.
As quoted in the press release:
The Company is in the course of arranging to repay the US$10 million advanced with the previously announced bridge loan (see the press release dated July 7, 2014).
Chieftain is in discussions with several project financing parties to fund the construction of the Tulsequah Chief Project. On October 20, 2014, the Company announced the results of its Feasibility Study, which resulted in significant reduction in CAPEX and NAV and IRR of C$212 million and 25.1% pre-tax.
Click here to read the full Chieftain Metals Corp. (TSXV:CFB) press release.
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