Home / Metal News / First Cobalt signs letter of intent with Kuya Silver for Cobalt Camp exploration assets

First Cobalt signs letter of intent with Kuya Silver for Cobalt Camp exploration assets

iconDec 22, 2020 15:17
Source:SMM
First Cobalt is pleased to announce that it has entered into a letter of intent with Kuya Silver Corporation to sell a portion of its silver and cobalt mineral exploration assets in the Canadian Cobalt Camp and form a joint venture to advance the remaining mineral assets.

SHANGHAI, Dec 22 (SMM) – First Cobalt is pleased to announce that it has entered into a letter of intent with Kuya Silver Corporation to sell a portion of its silver and cobalt mineral exploration assets in the Canadian Cobalt Camp and form a joint venture to advance the remaining mineral assets.

The transaction will allow the two companies to resume mineral exploration activities in a historic silver district while providing First Cobalt capital for the recommissioning of its Canadian refinery.

Kuya will pay $4 million on closing for a 100% interest in the Kerr area properties. The parties intend to complete the transaction in Q1 2021, at which point Kuya will own the Kerr Assets outright.

Cobalt

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news

SMM Events & Webinars

All