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Bravada Gold Corporation (TSXV:BVA,FWB:BRT) entered into a Letter of Understanding with Duncastle Gold Corp. for Bravada’s Drayton Archean gold property in Ontario.
As quoted in the press release:
Bravada will receive 250,000 shares of Duncastle upon approval from the TSX Venture Exchange and annually to an aggregate of 2,500,000 common shares over a six-year period in order to earn 100% interest in the property. In addition, Bravada will retain a 1.0% net smelter return royalty from any production at the property. Bravada and Duncastle have several directors and officers in common including: Lawrence Page, Michael Rowley, Derek Page and Arie Page. The Letter of Understanding is subject to TSX Venture Exchange acceptance on behalf of both Bravada and Duncastle.
Click here to read the Bravada Gold Corporation (TSXV:BVA,FWB:BRT) press release
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