Globex Options Montalembert High Grade Gold Property

Globex Mining (TSX:GMX) has announced a transaction with Natan Resources (TSXV:NRL) has taken, subject to TSXV approval, an option on Globex’s Montalembert Gold Property in Quebec.
As quoted in the press release:

The Montalembert Gold Property has historical and recently reported high grade gold visible in outcrop on surface and reported in historical shallow drill holes. Recent stripping completed by Globex has exposed the gold bearing quartz vein systems along with occurrences of coarse native gold. See Globex press releases dated September 9, 2015, November 12, 2015 and October 24, 2016 for information on historical and some more recent exploration on the property.   Current exploration on the property will be reported once completed and compiled, in partnership with Natan.
Under the terms of the agreement, Natan shall pay $2,700,000 and issue 8,500,000 Natan shares to Globex and undertake $15,000,000 in exploration to earn 100 % interest in the property subject to a Gross Metal Royalty (GMR) as follows.
The cash, share and work requirements of the first two years are firm commitments. Natan shall have the option depending upon market conditions to delay once, for a one year period, any of either the third, fourth or fifth year work commitments due to specific market conditions by paying Globex $150,000 and 1,000,000 million shares.
Commencing at the 4th anniversary, Natan shall pay Globex an annual $50,000 advance GMR Royalty payment, recoupable from first production from the property.
Globex shall receive a 6% GMR  (9,000 ounces) of the first 150,000 ounces of precious metals (Au, Ag) recovered from the property and a 3.5% GMR from all production beyond the initial 150,000 ounces of recovered precious metals.

Click here to read the full press release.