“Our initial agreement with Kuya was designed to allow us to maximize shareholder value for our exploration assets in Ontario, given our primary focus on recommissioning North America’s first cobalt sulfate refinery,” Trent Mell, Electra’s CEO said in the statement.
To exercise its right to acquire a 100% interest in Electra’s assets in Ontario, Kuya is required to make a payment in cash or in the equivalent value of its shares for C$1 million on or prior to January 31 this year.
The equivalent value of Kuya’s shares will be based on the share price equivalent to the earn-in volume weighted average price prior to the issuance, Electra said.
Kuya silver’s planned acquisition of Electra’s interest in the Silver Kings joint venture properties, will grant the miner ownership or exclusive rights to roughly 16,600 ha in Ontario’s cobalt-silver district.
“Although Kuya Silver remains focused on its flagship Bethania…
