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Rambler Metals & Mining PLC - Surrey, England-based copper and gold producer - Completes deal with Elemental Royalties Corp over the Ming mine in Newfoundland, Canada, and will receive an upfront cash payment of $11 million for Elemental's purchase of 50% of accountable gold until 10,000 ounces of gold have been delivered.
This will decrease to 35% until a further delivery of 5,000 ounces of gold and 25% thereafter for the life of the mine.
Rambler will make minimum gold deliveries of 1,200 ounces to Elemental in each of the first three years of the agreement.
Current stock price: 30.50 pence
12-month change: down 10%
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