PPM Completes the Sale of the Mount Suckling Project

(firmenpresse) - KELOWNA, BRITISH COLUMBIA -- (Marketwire) -- 01/29/13 -- PAPUAN PRECIOUS METALS CORP. (TSX VENTURE: PAU)(OTCQX: PAUFF) ("PPM or the "Company") has completed, subject to certain filing requirements in Papua New Guinea, the sale of a 90% interest in its Mount Suckling project in Papua New Guinea. The Company will maintain a 10% carried interest and retain a 2% net smelter royalty. The purchaser, Suckling Minerals Limited, was formed by David Lindley, the former Chief Operating Officer of the Company, and Tony Kelly, a former director. They have agreed to deliver 5,344,791 PPM shares to the Company for cancellation. Suckling Minerals Limited may purchase the 2% net smelter royalty at any time with a cash payment of C$2 million and may purchase the 10% carried interest for a payment of $4.7 million subject to maintaining the property in good standing.

About Papuan Precious Metals Corp.

PPM is engaged in the acquisition, exploration and development of mineral properties with a focus on Copper-Gold porphyries in Papua New Guinea.

ON BEHALF OF THE BOARD

Dev Randhawa, Chairman and CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contacts:
Papuan Precious Metals Corp.
Greg Downey
1.866.979.7022

Themen in dieser Pressemitteilung:


Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: MARKETWIRE
Datum: 29.01.2013 - 22:00 Uhr
Sprache: Deutsch
News-ID 224200
Anzahl Zeichen: 0

contact information:
Town:

KELOWNA, BRITISH COLUMBIA

Kategorie:

Mining & Metals

Diese Pressemitteilung wurde bisher 199 mal aufgerufen.


Die Pressemitteilung mit dem Titel:
"PPM Completes the Sale of the Mount Suckling Project"
steht unter der journalistisch-redaktionellen Verantwortung von

Papuan Precious Metals Corp. (Nachricht senden)

Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).

Papuan Precious Metals Announces Name Change to Ironside Resources Inc. ...

KELOWNA, BRITISH COLUMBIA -- (Marketwired) -- 04/20/15 -- PAPUAN PRECIOUS METALS CORP. (the "Company") is pleased to announce its name change to Ironside Resources Inc. ("Ironside"). Ironside will begin trading under the TSX-V s ...

PAU to Acquire Carried Interest in Highly Strategic, Open-Pit Iron Ore Project i ...

KELOWNA, BRITISH COLUMBIA -- (Marketwired) -- 04/07/15 -- PAPUAN PRECIOUS METALS CORP. (the "Company") (TSX VENTURE: PAU) is pleased to announce that it has entered into a letter of agreement to form a joint venture with Juniper Capital P ...

Papuan Precious Metals Advances $100,000 for Strategic, Near-Term Production Iro ...

KELOWNA, BRITISH COLUMBIA -- (Marketwired) -- 03/17/15 -- PAPUAN PRECIOUS METALS CORP. (the "Company") (TSX VENTURE: PAU) is pleased to announce that it will advance US$100,000 as a deposit on an agreement to form a joint venture with Sin ...

Alle Meldungen von Papuan Precious Metals Corp.