04 January 2024
04 January 2024
The offering is expected to complete on or about 24 January 2024.
The divestiture will enable Troilus to focus on its flagship Troilus Gold Project in Quebec.
With the acquisition of the four additional licences, District’s Viken property coverage expands from 9,367 hectares (ha) to 10,812ha.
DY6 made a non-refundable cash payment of A$25,000 ($16,854) for a six-month exclusive period to conduct due diligence on the project.
First production is now expected to begin by April, more than one year on from the original deadline.
The licence has been granted by the Ugandan Directorate of Geological Survey and Mines (DGSM).
Teck’s Peruvian subsidiary will have an option to earn a 55% interest in the project after a three-year period.
This final step was achieved through a $1.6m (C$2.14m) cash payment and the issuance of $1m in shares to Canagold Resources.
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