Sailfish has signed a non-binding LOI with Mako Mining for a 20-year gold purchase agreement, stepping up from 650oz per month to 1,000oz, in exchange for 70.0M shares at C$5.76.
FISH will pay Mako 25% of the LBMA PM Fix price on each delivery from working capital.
Mako is expected to hold ~49% of FISH once completed.
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FISH: Enters 20-Year Gold Purchase Agreement with Mako Mining