Offtake Deal--Great Basin Gold concludes ore purchase agreement with Canadian major

摘要

GOLD-mining junior Great Basin Gold (GBG) has signed an ore purchase agreement with Canadian major Newmont Mining to sell up to a maximum of 50 0001, but not less than 35 0001, currently stockpiled at its Hollister property, in Nevada, US. GBG plans to immediately deliver 40 0001 in terms of this agreement. As of April 11, the stockpile comprised about 51 000 wet tons containing an estimated 49 000 gold equivalent ounces. In terms of the agreement, Newmont will settle 75% of the estimated value of the ore within five days after delivery at a fixed metal price of 1 000 dollars/oz for gold and 17 dollars/oz for silver.