The Conversation (0)
Mining Weekly reported Colossus Minerals (TSX:CSI) agreed to sell life-of-mine metals streams at its gold-platinum-palladium project to Sandstorm Minerals for a deposit of $75-million.
As quoted in the market news:
Under the terms of the agreement, Colossus would deliver to Sandstorm 35% of the platinum and palladium and 1.5% of the gold produced at Serra Pelada over the life of the mine.
The financing was expected to propel the mine’s construction forward to a strong position to produce metals from 2013.
Colossus would deliver its 75% share of production at the Serra Pelada project.