Definitive Agreements
-
Key Benefits
- Mutual Rights of Access and Mutual Rights of Expansion Agreement
- Full extent of Cu-Au mineralization can be defined for the first time
- Drilling can start more quickly using existing mine permits
- Coimolache can expand current oxide pit with layback onto Regulus ground by paying 5% NSR to Regulus
- Regulus can model pit layback onto Coimolache ground and thereby report more complete resources
- Either party can develop project but more likely to strike new joint venture to co-develop when better defined
Summary
- Agreement allows collaborative exploration to define size/feasibility of giant AntaKori Cu-Au-Ag deposit
- Area of interest centered on Regulus mining rights and known AntaKori Cu-Au-Ag sulphide mineralization
- Parties remain autonomous and each retains its mining rights
- All exploration data and surface rights shared within area of interest
- Costs pro-rated to underlying mining rights holder
- Coimolache can expand Tantahuatay pit by layback onto Regulus mining rights by paying Regulus a 5% NSR
- Exploration close to Tantahuatay Pit will be managed by Coimolache and utilize existing permits and extensions which will allow drilling this year
- Either party may elect to become a developing party to develop and mine in the area of interest. The developing party would assume all costs for development, mining and closure and will pay 5% NSR for ore mined from the other party’s mining rights
- If Regulus elects to become the developing party, Coimolache will have a first right to assume the role. Regulus mining rights further from the pit will be managed by Regulus
Figure 8: Regulus’ AntaKori Land Concessions
For more information, please see News Releases:
Regulus Resources Completes Definitive Agreement for Antakori Copper-Gold Project, Peru January 24, 2017
Regulus Resources Announces Agreements for Collaborative Exploration at Antakori Copper-Gold Project, Peru May 18 2016
-
Summary
- Option to earn-in with an option to claw-back
- Area of interest is 2,571 ha of Colquirrumi mining rights to north and east of main Regulus ground
- Regulus can earn up to a 70% interest by drilling 7,500 m within 3 yrs of obtaining necessary permits
- Colquirrumi can claw-back to 70% (30% Regulus) by paying US$9 million
- Regulus and Coimolache have rights of expansion as per Coimolache agreement
Figure 8: Regulus’ AntaKori Land Concessions