Bastnäs comprises the Bastnäs 100 and 200 permits covering 1,130.28 hectares in the Riddarhyttan-Bastnäs district. Medaro has also agreed to acquire the complementary Bäckegruvan nr 1 exploration permit for C$50,000 cash and C$150,000 of shares at closing; the vendor retains 1.5% and 0.5% NSRs over specified portions, with a two-thirds buyback right on the 1.5% NSR for C$1 million before commercial production. That acquisition remains pending Canadian Securities Exchange acceptance. Reconnaissance sampling returned high copper and gold values plus elevated Ce-La-Y, and no resource is defined.
- Country
- Sweden
- Commodity
- REE
- Stage
- Exploration