SAN FRANCISCO, CA--(Marketwired - February 09, 2017) - After a relatively long period without significant news, Terraco Gold Corp. (
Company included in article: Terraco Gold Corp.
Meeting in Vancouver around the latest VRIC show, I felt it was an opportune time to interview Terraco Gold Corp.'s CEO Todd Hilditch on a number of subjects. First Paul Zink, a royalty veteran was contracted, and shortly afterwards on February 1 an additional royalty was acquired from the Schmidt Family Mining Partnership LLC on the Spring Valley Gold Project in Nevada. This is a 0.5% Net Smelter Returns royalty (NSR royalty) on lands within a one-half mile perimeter of the Schmidt Claim Block. Red Kite Mine Finance also had a right to, and purchased, an identical royalty on the same lands, for the same price, USD$567,895.
The Critical Investor: Looking at this new royalty deal, does new hire Paul Zink already have something to do with this, possibly already visualizing his added value, or is this a deal set up and finalized well before he got on board?
Todd Hilditch: This new acquisition was part of a structure I negotiated with Mr. Schmidt, who owned the Spring Valley royalty, long before Paul joined us. As Spring Valley was at its early stage of exploration but showing great promise, I thought it was important to help Terraco cover the growth potential beyond the Schmidt claim block. At the time we didn't know that it would represent a significant portion of the currently known ore body but we did want to ensure Terraco would cover the growth potential at Spring Valley, so in our minds by negotiating a right of first refusal on the Schmidt claims in 2011 we (when exercised and just did) would have upside in royalty coverage no matter which way the deposit grew (i.e., east, west, north, south or at depth). Paul recognizes the value of what we created on Spring Valley in this right-of-first-refusal transaction.
Continue reading this article: Terraco Gold Expands Royalty on Spring Valley Gold Project in Nevada
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