SPA announced a royalty deal with Wheaton Precious Metals for US$55M, granting a 1.5% NSR on gold and silver production from the Spanish Mountain Gold Project for three milestone-related payments.
SPA will receive US$22.5M in the coming weeks, with US$12.5M tied to completing 60,000m of drilling and a final US$20M contingent on receiving BC Environmental Assessment Act approvals.
SPA is targeting a Feasibility Study within 18 months and a construction decision in 2028.
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SPA: US$55M Wheaton Royalty Accelerates Development