• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Battery Metals Market
    Battery Metals News
    Battery Metals Stocks
    • Battery Metals Market
    • Battery Metals News
    • Battery Metals Stocks
    market news

    Prophecy Acquires Louie Hill Project in Nevada for Third Vanadium Transaction in 2017

    Melissa Shaw
    Jul. 13, 2017 08:56AM PST
    Battery Metals

    Prophecy Development (“Prophecy” or the “Company”)(TSX:PCY, OTCPK:PRPCF, Frankfurt:1P2N) is pleased to announce that it has successfully acquired through lease, the Louie Hill vanadium project in Nevada, USA (the “Louie Hill Project”) from arm’s-length, private parties (the “Lessors”) with the intent to carry-out mining operations there.Transaction Summary Under the mineral lease agreement, Prophecy has leased the Louie Hill mining claims …

    Prophecy Development (“Prophecy” or the “Company”)(TSX:PCY, OTCPK:PRPCF, Frankfurt:1P2N) is pleased to announce that it has successfully acquired through lease, the Louie Hill vanadium project in Nevada, USA (the “Louie Hill Project”) from arm’s-length, private parties (the “Lessors”) with the intent to carry-out mining operations there.
    Transaction Summary

    Under the mineral lease agreement, Prophecy has leased the Louie Hill mining claims which constitute the Louie Hill Project by paying to the Lessors, annual advance royalty payments which will be tied, based on an agreed formula (not to exceed $28,000 per year), to the average vanadium pentoxide price for the prior year.
    Upon commencement of production, Prophecy will maintain its acquisition through lease of the Louie Hill mining claims by paying to the Lessors, a 2.5% net smelter return (“NSR”) of which, 1.5% of the NSR may be purchased at any time by Prophecy for $1,000,000, in such case, leaving the total NSR to be reduced to 1% over the remaining life of the mine (and referred to thereafter, as “production royalty payments”).
    All advance royalty payments made, will be deducted as credits against future production royalty payments.
    The lease will be for a term of 10 years, which can be extended for an additional 10 years at Prophecy’s option.
    With the acquisition of the Louie Hill Project, together with the previously acquired Gibellini and Titan projects, Prophecy is well-positioned to be a leading North American vanadium exploration company.

    Click here to read the full text release. 

    market newstsx:pcyvanadium explorationvanadium pentoxideamerican vanadiumnorth american
    The Conversation (0)

    Go Deeper

    AI Powered
    Electric Royalties (TSXV:ELEC)

    Electric Royalties

    VanadiumCorp Resource Shareholders Approve All Matters at AGM

    VanadiumCorp Resource Shareholders Approve All Matters at AGM

    Latest News

    Volt Resources Strengthens Critical Minerals Supply Chain Strategy: Joins DARPA-Supported Critical MineralsForum and Alabama Mobility & Power Consortium

    UPS Batteries For Explosive (EX & ATEX) Environments

    VanadiumCorp Resource Shareholders Approve All Matters at AGM

    NextSource Materials Announces Positive Results of Technical & Economic Study for Proposed Battery Anode Facility in the UAE and Secures Industrial Site with Building in Abu Dhabi

    Cote D'Ivoire Soils Underway and Ghana Auger Well Advanced

    More News

    Outlook Reports world

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES