Global Energy Metals Expands Portfolio with Uranium Addition Through New Strategic Partnership
April 08, 2024 at 07:30 am
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Global Energy Metals CEO Mitchell Smith joined Steve Darling from Proactive to shared significant developments regarding the company's agreements with Fulcrum Metals Plc and Terra Balcanica Resources Corp.
Firstly, Smith announced that Global Energy Metals has terminated its agreement with Fulcrum Metals Plc and has entered into a new deal with Terra Balcanica Resources Corp. This strategic move facilitated a new partnership between Fulcrum and Terra, where Terra intends to acquire a 100% interest in Fulcrum's uranium projects.
As part of the termination of the prior agreement with Fulcrum, Global Energy Metals will receive compensation equivalent to C$150,000 in shares in Terra upon the closing of the option agreement between Terra and Fulcrum. Additionally, Global Energy Metals will be granted a 0.5% Net Smelter Returns (NSR) royalty over the Saskatchewan-based project portfolio, which encompasses 596.71 square kilometers of highly prospective ground for uranium discovery.
Smith highlighted that the project portfolio targets major NE-SW trending structures along strike from historic uranium mines and projects. This new agreement will bolster Global Energy Metals' existing project, royalty, and equity portfolio to now include uranium, further demonstrating the company's ability to monetize assets for the benefit of shareholders.
Contact Details
Proactive North America
Proactive North America
+1 604-688-8158
NA-editorial@proactiveinvestors.com
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Global Energy Metals Corporation is a Canada-based critical mineral exploration and development company. The Company offers investment exposure to the rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral projects. Its pipeline of growth stage battery metal projects includes Lovelock Mine & Treasure Box Projects, Monument Peak Copper-Silver-Gold Project, Rana Nickel-Copper-Cobalt Project, Millennium & Mount Isa Projects, and Chance Lake & Amiral Nickel-Copper-Cobalt-PGE Projects. The Lovelock Mine consists of about 81 unpatented lode claims in the Cottonwood Canyon area of the Stillwater Range, totaling approximately 1,586 acres. Treasure Box hosts mine workings from limited copper production. The Monument Peak Project consists of 69 claims covering approximately 1,380 acres. The Rana Project portfolio includes three exploration licenses. The Millennium Project is a cobalt-copper deposit.