Global Energy Metals Expands Portfolio with Uranium Addition Through New Strategic Partnership
London, UK
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April 08, 2024 07:28 AM Eastern Daylight Time
Global Energy Metals CEO Mitchell Smith joined Steve Darling from Proactive to shared significant developments regarding the company's agreements with Fulcrum Metals Plc and Terra Balcanica Resources Corp.
Firstly, Smith announced that Global Energy Metals has terminated its agreement with Fulcrum Metals Plc and has entered into a new deal with Terra Balcanica Resources Corp. This strategic move facilitated a new partnership between Fulcrum and Terra, where Terra intends to acquire a 100% interest in Fulcrum's uranium projects.
As part of the termination of the prior agreement with Fulcrum, Global Energy Metals will receive compensation equivalent to C$150,000 in shares in Terra upon the closing of the option agreement between Terra and Fulcrum. Additionally, Global Energy Metals will be granted a 0.5% Net Smelter Returns (NSR) royalty over the Saskatchewan-based project portfolio, which encompasses 596.71 square kilometers of highly prospective ground for uranium discovery.
Smith highlighted that the project portfolio targets major NE-SW trending structures along strike from historic uranium mines and projects. This new agreement will bolster Global Energy Metals' existing project, royalty, and equity portfolio to now include uranium, further demonstrating the company's ability to monetize assets for the benefit of shareholders.
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Proactive North America
Proactive North America
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