Pursuant to the terms of the deal, Sunshine's wholly owned subsidiary XXXX Gold has paid Ukalunda, a wholly owned subsidiary of Stavely which currently owns the Ravenswood West Project, a non-refundable option fee of $10,000.XXXX Gold now has a 45-day period due diligence in which to exercise the option, after which a payment of $400,000 will be made to Ukalunda to acquire the four-tenement package.Ukalunda will retain a one per cent net smelter royalty on the project, which XXXX Gold has the pre-emptive right to acquire.
Looks like tidying up focus which I see as a good thing
SVY Price at posting:
67.5¢ Sentiment: Buy Disclosure: Not Held
