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Riversgold Limited (ASX: RGL) has entered into a farm-out agreement with Canada’s AIS Resources Limited (TSXV: AIS, OTC Pink: AISSF) over its Saint John Gold-Copper-Silver-Antimony Project in New Brunswick, Canada. Under the terms, AIS will issue 2.86 million shares to Riversgold upon signing and can earn up to 75% of the project through staged exploration and development spending. To secure 51%, AIS must invest C$1.4 million across the first two years, including drilling and surveys. To increase its stake to 75%, AIS is required to fund a further C$3 million over years three and four.
Riversgold will retain a 25% free-carried interest through to a mining decision, ensuring continued exposure to the project’s upside. Chairman David Lenigas highlighted that partnering with a Canadian-based company positions the project for faster advancement while allowing Riversgold to focus on its Northern Zone porphyry gold project in Western Australia.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
