North Bay Resources, Inc: Signed a Definitive Agreement to Sell a 90% Interest in North Bay's Fraser River Platinum Project
June 28, 2022 at 07:28 pm IST
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(OTCMKTS: NBRI)
On February 07, 2022, the company issued an update on their Fraser River Platinum Project
The company (NBRI) signed a definitive agreement to sell a 90% interest in North Bay's Fraser River Platinum Project to a private mining group (the "JV Group") based in British Columbia. Under the terms of the deal, North Bay will retain a 10% interest in the property going forward and will be due a 10% Net Smelter Royalty ("NSR") for all annual revenue from metal recovery in excess of the first $10,000 per year. The JV Group will also be responsible for maintaining the property in good standing with the British Columbia Ministry of Mining. https://www.otcmarkets.com/stock/NBRI/news/North-Bay-Resources-Inc-NBRI-Issues-Update-on-Fraser-River-Platinum-Project?id=342522
Company profile provided by OTC Markets-- North Bay Resources Inc. engages in the exploration, acquisition, development, and mining of precious metal and other mineral properties.
https://www.otcmarkets.com/stock/NBRI/profile
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