SLAM recently sold its Ramsay Cobalt property for an initial payment of $50,000 and 500,000 shares pursuant to an Agreement with International Cobalt (“Cobalt” on CSE: CO). Cobalt can earn 100% interest in the Ramsay Cobalt Property by completing an additional $450,000 in cash and 2,000,000 in share payments over a 2 year period. SLAM retains a 2% NSR royalty of which Cobalt may buy down 1% NSR at any time for $1M.
SLAM sold its Coulee claim to Osisko Metals Inc. for a cash payment of $100,000 in 2017. SLAM retains a 1% NSR royalty that Osisko may purchase for $750,000.
The Company retains a 1% NSR royalty on the Superjack and Nash projects subject to a buy back of 0.5% NSR for $500,000. The royalty will increase by 0.25% NSR when zinc prices exceed US $1.25 per pound and an additional 0.25% NSR when zinc rises above US $1.50 per pound.
To date the Company received payments of 600,000 CNX shares and $150,000 cash for the sale of the Superjack and Nash projects to Callinex Mines Inc. SLAM to receive an additional $175,000 in cash or shares plus $125,000 in cash or shares upon completion of a Preliminary Economic Assessment on the Nash property.