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Sliding Scale Royalty on Robertson Project in Nevada
Coral Gold Resources is a successful precious metals company operating in Nevada. Further, they've been involved in Nevada for 35 years. The Company holds an uncapped, sliding scale royalty with Nevada Gold Mines (formerly Barrick Gold) on the Robertson Project and where NGM has begun pre-feasibility & permitting to bring Robertson into production.
Twenty five million dollars have been spent on the Robertson project and this year Coral is focused on exploration.
"There's a sliding scale royalty. The percentage goes up by a quarter point every 200 dollars that gold goes up, to two thousand gold, and it will get to 2.5 percent.", says President & CEO, David Wolfin.
"Whatever amount of gold they produce, we will always get royalty from it and they have to have the mine up and running in 2024, or we start getting advance royalty payments of half a million dollars a year for 10 years.", continues Wolfin.
In addition, Coral Gold is exploring a nearby property called the JDN Claims. In fact, it directly adjoins Barrick's Hilltop deposit, which is about 700 to a million ounces of gold.
Coral's overall objective is to generate long-term wealth for its shareholders through royalty revenue at Robertson.
For more information on Coral Gold Resources Ltd. (CLH:TSX.V) please fill out the form below.
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