British Columbia-focused Ximen Mining Corp (CVE:XIM) has further amended the terms of an agreement for its net smelter return royalty from American CuMo Mining Corp on certain mineral claims that include its Brett gold property.
The final payment of C$930,000 due on or before February 20, 2020, will be reduced to C$720,000 and paid with the issuance of 2.4 million shares at the price of C$0.30 per share.
This payment will complete the purchase of the net smelter royalty, Ximen said.
Ximen’s two gold projects, the Gold Drop project and the Brett gold project, are located in southern British Columbia. Ximen also owns the Treasure Mountain silver project, which is adjacent to the past-producing Huldra Silver mine and near Hope, British Columbia.
Ximen shares traded up 3.2% at C$0.32 in Wednesday’s afternoon trading session.
Contact Ellen Kelleher at [email protected]