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Lincoln Gold Mining Inc.: Lincoln in Discussions to Reduce Pine Grove Royalties
VANCOUVER, BC / ACCESSWIRE / January 20, 2021 / Lincoln Gold Mining Inc. ( Lincoln or the Company ) (TSXV:LMG) announces that it has entered into discussions with two of its partners that own patented claims within the Company s Pine Grove Gold Project located in Nevada. The discussions involve a reduction in the net smelter returns royalties (NSRs) that currently exist on production. At present, the NSRs range from 2.5% to 7% on the planned open pit areas. Discussions have involved the buy down of these royalties from 0% to 2% maximum.
As the Company gets closer to production, management felt that it was imperative to reduce or eliminate the NSRs to attract third party start-up financing for the plant and equipment. In this regard, Lincoln has been in discussions with several firms that have indicated their interest in financing the Pine Grove Gold Project if the NSRs could be reduced. The Company wi