Xplore Resources will join the Diamond Mountain project
The Canadian company Xplore Resources signed an agreement with Revival Gold to acquire a 51% stake in the Diamond Mountain project (Utah, USA), while the remaining 49% belongs to Utah Mineral Resources.
The Diamond Mountain project occupies an area of 547 hectares with phosphorite reserves of 26.8 million tons and predicted resources of 23.1 million tons. The average content of phosphorus pentoxide is 19.67%.
As follows from the agreement, Xplore Resources will pay CAD250 thousand (approximately $196,000) to Revival Gold upon completion of the transaction and the same amount a year after the acquisition, as well as will provide Revival Gold with 2 million of its own shares.
Enjoyed this story?
Every Monday, our subscribers get their hands on a digest of the most trending agriculture news. You can join them too!
Exciting times in Oryza! Our new platform is set to transform agriculture, bringing real change to farmers' lives. I am proud to be a part of Oryza's mission to transform agriculture with technology, empower farmers and drive sustainability. I strongly believe our focus on innovation and collaboration is key to the future of agriculture.
Discussion0 comments