Bolivia eases rules on gold holdings as liquidity crunch bites
By law, the institution must keep at least 22 tons of the metal.
SYDNEY, AUSTRALIA. July 22, 2016. Synergy Resource Capital is pleased to announce that it has successfully identified a lithium project in Argentina for Millennial Lithium, a publicly listed company trading in the TSX Venture Exchange. As announced on July 19, Millennial has entered into a binding property purchase agreement that gives them a strategic position in the lithium space in Salta province, northern Argentina. At this time, Millennial has decided not to disclose the specific location of the asset, and will do so in due course.
Under the terms of the Agreement, Millennial can acquire a 100% interest in the Project by:
– Paying a USD 200,000 deposit on execution of the Agreement;
– Paying USD 500,000 and issuing USD 500,000 in shares on Exchange approval of the definitive agreement;
– Paying USD 500,000 and issuing USD 500,000 in shares on the six-month anniversary of Exchange approval of the definitive agreement; and
– Paying USD 1,000,000 on the twelve-month anniversary of Exchange approval of the definitive agreement.
– Also, the Project is subject to a 1.5% NSR, which the Company has the option to purchase for USD 3 million.
Synergy will receive a finder’s fee equal to “the maximum finder’s fee permitted under the policies of the TSX Venture Exchange“, for introducing the Project.
Scott Humphries, Managing Director of Synergy said, “We’ve always been interested in lithium, and are quite pleased to be in a position to lead investors to such fantastic opportunities. The fundamentals in the lithium market are strong and we think it will continue to be a commodity to invest in, for years to come”.
The identification process at Synergy involves reviewing a number of opportunities that are either previously known or identified after ad-hoc research, among currently available options that match the investor’s criteria. The client then selects one or more to proceed. Synergy can then assist in negotiation, due diligence, site visits, etc. according to the requirements of the deal.
Following the election of businessman Mauricio Macri as Argentina’s 57th president, swift measures have been taken to promote investment and development. Rather quickly, the markets have reacted; significant investment activity is underway in mining, mainly from Australia, Canada, the UK, and Chile, among others. Recent announcements include Fortuna Silver’s acquisition of Goldrock Mines, Aberdeen’s acquisition of Rodinia and creation of Lithium X, Neo Lithium’s listing in the TSX and several others, including new junior companies being formed or refocusing to the country.
To see Millennial’s full release, please click here.
About Synergy Resource Capital
Synergy Resource Capital is a corporate advisory firm focused in connecting Latin American resource projects with investors worldwide. The firm relies on its extensive network of contacts and financial acumen to assist investors looking to acquire or invest in assets throughout the region as well as companies seeking funding for expansion and growth as well as divestment. Synergy is based in Sydney, Australia, and has representatives and allies throughout the Americas.
For further information, please visit: http://www.synergyresourcecapital.com
