Bosai Minerals to Acquire Reunion Gold’s Matthews Ridge Manganese Project for $10M, Guyana
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Reunion Gold Corporation has entered into an agreement to sell all of its rights, title and interest in the Matthews Ridge manganese project to Bosai Minerals Group Co., Ltd., an arm’s length Chinese corporation.
Under the terms of the agreement, Bosai will pay to Reunion a total amount of US$10 million of which US$5 million is payable at closing and US$5 million is to be paid at the rate of US$2.00 per tonne of manganese concentrate or ore shipped from Matthews Ridge once it enters into production.
Pursuant to the agreement, Reunion agreed to transfer to Bosai the four prospecting licences (which make up the Matthews Ridge project), the March 2011 mineral agreement between Reunion, the Co-Operative Republic of Guyana and the Guyana Geology & Mines Commission (GGMC), and capital assets located at Matthews Ridge.
About Reunion Gold
Reunion Gold Corporation is a mineral exploration company focused on acquiring and exploring mineral projects in the Guiana Shield region of South America. The company has assembled a large, strategic land position in North-western Guyana.
To stop by Reunion Gold’s website, CLICK HERE
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