Energia Africa

Actualité, Energie, environnement, Hydrocarbures

Burkina Faso: Mako finalizes the sale of the Niou project

Mako Gold completed the transaction with Nord Gold SE to sell the Niou permit and the Niou Sud permit and received full payment of US $ 700,000 in cash. The sale of the Niou project in Burkina Faso will allow Mako to focus its exploration efforts and capital on its flagship Napié and Korhogo projects in Côte d’Ivoire.

 

Mako also retains a 1% net smelter royalty (NSR) if Nordgold discovers an NI 43-101 compliant resource of at least 2 million ounces of gold and advances the resource to production. Nordgold has the right to purchase the NSR at any time for US $ 4.5 million.