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Pin to quick picksTertiary Minerals Share News (TYM)

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Tertiary Minerals offloads non-core gold assets in Finland

Mon, 05th Dec 2016 10:10

(ShareCast News) - Tertiary Minerals announced the sale of its non-core gold assets, Kaaresselkä and Kiekerömaa in Finland on Monday, to TSX-V listed Aurion Resources.The AIM-traded company said Aurion is a Canadian listed precious metals exploration company primarily focusing on the development of its Finnish gold projects, several of which are under a joint venture with B2Gold, a main listed gold producer and developer.It confirmed £100,000 initial consideration is to be paid by Aurion, with £15,000 in cash and £85,000 in Aurion shares.Tertiary said it will retain royalty interest in the projects, with a pre-production royalty of $1 per ounce of gold following the definition of a NI 43-101 or equivalent code compliant inferred mineral resource estimate on either project.Another pre-production Royalty of $2 per ounce of gold would be paid following the definition of a NI 43-101 or equivalent code compliant indicated mineral resource estimate on either project, and a pre-production royalty of $3 per ounce of gold following the definition of a NI 43-101 or equivalent code compliant measured mineral resource estimate on either project.On top of that, a net smelter returns royalty of 2% on all future gold production from either property would also be paid.Aurion also has the rights to purchase 50% of the NSR from Tertiary for $1m at any time prior to commencement of commercial production on either project.Tertiary said the sale is conditional upon the successful transfer of the exploration licences for each project from Tertiary to Aurion - to be handled by the mining division of the Finnish Safety and Chemical Agency - and exchange approval by the TSX-V."We are delighted to have sold our two legacy gold projects to an accomplished gold explorer," said Tertiary managing director Richard Clemmey."We wish Aurion every success with the development of the projects and look forward to potentially sharing the future upside through our retained royalty interest."
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9 May 2024 16:19

Tertiary Minerals shares rise as Mupala project brief approved

(Alliance News) - Tertiary Minerals PLC on Thursday said that the environmental project brief for its Mupala copper project in Zambia has been approved.

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9 May 2024 13:23

Tertiary Minerals moves towards operations at Mupala

(Sharecast News) - Tertiary Minerals announced on Thursday that its Environmental Project Brief (EPB) for the Mupala Copper Project in Zambia had been approved, paving the way for mineral exploration activities to start.

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2 May 2024 16:11

TRADING UPDATES: Microsaic wins contract; Frontier inks Canadian deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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2 May 2024 10:46

Tertiary Minerals upbeat on fresh Brunton Pass findings

(Sharecast News) - Tertiary Minerals announced optimistic findings from a recent geophysical survey at its Brunton Pass Copper-Gold Project in Nevada on Thursday.

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16 Apr 2024 21:57

EARNINGS AND TRADING: J Smart boosts revenue, Tertiary starts drilling

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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9 Apr 2024 13:06

Tertiary Minerals up as Konkola deal in Zambia gets approval

(Alliance News) - Shares in Tertiary Minerals PLC rose on Tuesday, as the company's joint venture partner prepares for drilling at its Zambian copper project following the receipt of a regulatory approval.

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26 Feb 2024 14:08

Tertiary Minerals forms Zambian joint venture

(Sharecast News) - Tertiary Minerals announced the signing of a new joint venture agreement with local partner Mwashia Resources on Monday.

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26 Feb 2024 12:29

Tertiary Minerals inks new joint venture deal for Zambian licences

(Alliance News) - Tertiary Minerals PLC on Monday said it has signed a new joint venture deal with Zambia-based Mwashia Resources Ltd that will consolidate ownership of the Jacks, Mukai and Mushima North exploration licences into a new Zambian company.

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12 Feb 2024 14:28

Tertiary Minerals completes £0.38m fundraising

(Sharecast News) - Tertiary Minerals announced the successful completion of a fundraising on Monday, raising £0.38m before expenses to be used for its exploration activities.

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12 Feb 2024 09:54

Tertiary Minerals raises GBP375,000 through share placing

(Alliance News) - Tertiary Minerals PLC on Monday said that it has raised GBP375,000 through a placing in order to fund exploration activities at its various global projects.

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7 Feb 2024 15:46

UK shareholder meetings calendar - next 7 days

Thursday 8 February 
Benchmark Holdings PLCAGM
Compass Group PLCAGM
easyJet PLCAGM
Hargreave Hale AIM VCT PLCAGM
Polar Capital Global Healthcare Trust PLCAGM
Friday 9 February 
Kibo Energy PLCEGM re pre-emption rights for share issues
Victrex PLCAGM
Monday 12 February 
Arix Bioscience PLCGM re takeover by RTW Biotech Opportunities Ltd
JPMorgan UK Smaller Companies Investment Trust PLCGM re merger with JPMorgan UK Smaller Companies
Mears Group PLCGM re authority to buy back up to 10% of shares
Tuesday 13 February 
Cellular Goods PLCAGM
Iconic Labs PLCAGM
JPMorgan Indian Investment Trust PLCAGM
Tui AGAGM including London Stock Exchange delisting vote
Xtract Resources PLCGM re sale of Manica gold project to MMP
Wednesday 14 February 
GCP Infrastructure Investments LtdAGM
Gfinity PLCGM re annual report
Tertiary Minerals PLCAGM
Tritax EuroBox PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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6 Feb 2024 19:15

TRADING UPDATES: Smartspace extends deadline; EDX launches fundraising

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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15 Jan 2024 11:41

IN BRIEF: Tertiary Minerals loss narrows as revenue climbs

Tertiary Minerals PLC - mineral exploration and development company focused on energy transition metals with projects in the US and Zambia - Pretax loss narrows to GBP541,341 in the financial year ended September 30, from GBP1.2 million a year prior. Revenue climbs 6.1% to GBP181,429 from GBP171,052. Further, costs regarding the impairment of deferred exploration expenditure narrows to GBP111,691 from GBP699,484. "Looking forward to 2024, we have drilling planned for Jacks, Mushima North and Mukai in Zambia although, given the interest we have had from other companies," Tertiary Minerals says. It adds: "That we were able to carry out significant field programmes in 2023 in extremely difficult market conditions is due in no small part to our dedicated teams in Zambia and the UK and our low-cost base."

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19 Dec 2023 17:01

LONDON MARKET CLOSE: Stocks close higher ahead of UK inflation data

(Alliance News) - Stock prices in Europe closed higher on Tuesday, after data confirmed that the eurozone is inching closer towards its 2% inflation targets.

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19 Dec 2023 11:36

Tertiary Minerals shares soar on Konkola West project earn-in deal

(Alliance News) - Tertiary Minerals PLC on Tuesday said it has signed an earn-in agreement with KoBold Metals Co and Mwashia Resources Ltd, regarding its copper project in Zambia.

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