TSX-V-listed Los Andes Copper has entered into a royalty agreement with Ecora Resources for $20-million for the sale of all minerals produced from the Vizcachitas project, in Chile.
Ecora will receive royalty payments calculated as 0.25% net smelter royalty (NSR) on minerals sold on openpit operations and 0.125% NSR on underground operations.
The royalty agreement is in addition to the existing NSRs in place on the project, consisting of a 2% NSR for openpit operations and a 1% NSR on underground operations. The transaction is expected to close in the next two weeks.