Thomson Resources Ltd.: Release of Independent Expert Report on Bygoo Tin
28.06.2017 | ABN Newswire
Sydney, Australia - The Canadian company, Rheingold Exploration Corp. (CVE:RGE) has completed their due diligence and released an independent expert report earlier this month.As announced to the ASX on 21 November 2016, Riverston Tin PL (a wholly owned subsidiary of Thomson) signed a Farm-in and Joint Venture Agreement for its Bygoo Tin Project with a Canadian investor (BeiSur OstBarat Agency Ltd). BeiSur has granted an option to Rheingold Exploration Corp., a public company listed on the Canadian Securities Exchange (CVE:RGE), to acquire the rights to the agreement.
Rheingold can earn a 51% interest by contributing $A3 million in staged payments by 31 January 2018. Rheingold then has an option to contribute additional $A22 million to earn a further 25% interest, which is exercisable until 1 October, 2018.
The assignment to Rheingold is subject to Canadian Securities Exchange approval and completion by Rheingold of financing raising not less than $C1 million. The payment schedule of the remaining funds to Riverston for exploration at Bygoo is as follows:
- AUD$580,000 within 5 business days of satisfaction of the Conditions
- AUD$800,000 on or before July 31, 2017; and
- AUD$1,500,000 on or before January 31, 2018
To view the Independent Expert Report on Bygoo Tin, please visit:
http://abnnewswire.net/lnk/37J9PJH3
To view the release, please visit:
http://abnnewswire.net/lnk/7W12EUMQ
About Thomson Resources Ltd:
Thomson Resources Ltd. (ASX:TMZ) is an NSW active mineral explorer. Thomson has several tin projects (including an advanced project near Ardlethan), as well as gold, copper and zinc targets in a range of settings. Thomson has a good record of discovery, with multiple new Intrusion-Related Gold (gold with copper, lead, zinc, molybdenum, tungsten) systems discovered in the Thomson Fold Belt in the NW of the state.
Contact:
Thomson Resources Ltd.
T: +61-2-9906-6225
E: info@thomsonresources.com.au
www.thomsonresources.com.au
