other material
confidence high
sentiment positive
materiality 0.40
Nevada Canyon Gold exercises option to acquire 1% Olinghouse royalty for $1.74M cash
Nevada Canyon Gold Corp.
- Amended option from original $2M cash/shares terms to $1.5M cash payment; total consideration $1.74M including prior payments.
- Royalty covers 1% net smelter returns on Olinghouse Project in Washoe County, NV, 30 miles east of Reno.
- Project hosts historic geologic resource from 1997 Alta Gold feasibility study; Nevada Canyon cautions it is not current-compliant.
- CEO Alan Day: 'Amendment strengthens royalty portfolio at much lower cost basis and offers excellent leverage to gold prices.'