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Canada s Velocity Minerals has started the initial phase of drilling at the Voden gold exploration target, part of its Iglika copper-gold project in southe
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Velocity Minerals Ltd : Velocity Exercises Option for 100% Ownership of Iglika Project finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
Canada s Velocity acquires 100% of Iglika gold project in Bulgaria Photo: Velocity Minerals / All rights reserved.
SOFIA (Bulgaria), February 25 (SeeNews) - Canadian gold exploration company Velocity Minerals said on Thursday that it has acquired 100% interest in the Iglika copper-gold project and the associated exploration licence under a previously-agreed option deal.
Velocity has exercised the right to acquire all of the shares of Bulgaria s Balkan Minerals Development, which holds the exploration licence for the project area, with the vendors retaining a 2% net smelter returns royalty capped at $5 million (4.1 million euro), Velocity said in a statement.
At any time, 1.5% of the royalty can be purchased for $1.5 million.