| Rupert announces that it has signed a six month option agreement to acquire the Pahtavaara gold mine in Lapland , Finland. | |
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Rupert announced on March 15, 2016 that it had signed effective that date a six month option agreement to acquire the permitted, Pahtavaara gold mine in Lapland, Finland. The purchase price of the acquisition is US $2,500,000 structured as a US $500,000 payment upon the exercise of the option (less two small US$50,000 payments upon signing and at the three month mark) and a $2,000,000 production royalty of 1.5% payable when gold production resumes. In addition, if the purchase option is exercised, Rupert must fund the environmental bond which is currently Euros 560,000.
The Pahtavaara mine is located in the Central Lapland gold belt and has been in production for 15 out of the last twenty years , with its first year of production in 1995. The mine was originally an open pit operation and then became a ramp underground mine producing 35,000 in one year at its highest production level . The mill capacity is over 1,000 of ore a day.
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Rupert Resources Inc
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CODE : RUP.TO |
ISIN : CA78165J1057 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Rupert Res. is a gold and copper exploration company based in Canada. Rupert Res. holds various exploration projects in Canada. Its main exploration properties are SURF INLET, GOLD CENTRE and HARP LAKE - RUPERT in Canada. Rupert Res. is listed in Canada. Its market capitalisation is CA$ 376.5 millions as of today (US$ 277.5 millions, € 248.6 millions). Its stock quote reached its highest recent level on May 02, 2024 at CA$ 4.50, and its lowest recent point on August 09, 2024 at CA$ 3.28. Rupert Res. has 96 280 000 shares outstanding. |