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FAQ: Nevada Organic Phosphate Inc. Secures Full Ownership of Murdock Mountain Project
TL;DR
Nevada Organic Phosphate gains full control of its Murdock Mountain Project and eliminates royalty liabilities, enhancing strategic flexibility for potential joint ventures and competitive advantage.
Nevada Organic Phosphate acquired 100% ownership by paying US$50,000 and issuing 1,000,000 shares to cancel a 2% net smelter return royalty, pending CSE approval.
This acquisition supports sustainable phosphate exploration in North America, potentially providing organic resources for agriculture while improving environmental stewardship through responsible mining practices.
Nevada Organic Phosphate's project spans over 30 kilometers, making it the only known large-scale organic sedimentary phosphate deposit in North America near key infrastructure.
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Nevada Organic Phosphate Inc. has signed an agreement resulting in 100% ownership of its Murdock Mountain Project and eliminated net smelter return royalty liabilities by purchasing and cancelling a 2% NSR royalty.
This provides greater strategic flexibility for the company, including the potential formation of joint ventures with arm's-length parties, and eliminates certain royalty payment obligations.
The company purchased and cancelled a 2% net smelter return royalty from Montecinos Family Trust in exchange for US$50,000 and the issuance of 1,000,000 common shares, subject to Canadian Securities Exchange approval.
Nevada Organic Phosphate Inc. (CSE: NOP) and Montecinos Family Trust were the parties involved in the royalty purchase agreement.
The Murdock Mountain Project is an organic sedimentary raw rock phosphate bed, 6.6 kilometres long, located in northeast Nevada near the main highway to Montello/Elko and near the rail head to California.
This is believed to be the only known large-scale organic sedimentary phosphate project in North America, with additional applications extending the potential strike of rock phosphate to over 30 kilometres.
The latest news and updates relating to NOP are available in the company's newsroom at https://ibn.fm/NOP, and the full press release can be viewed at https://ibn.fm/iVflU.
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Curated from InvestorBrandNetwork (IBN)
