Nov. 5, 2010 - Empire Mining Corp., a junior Vancouver miner, says it has signed a definitive agreement for the three per cent royalty sale to Anglo-Pacific Group PLC on chromite mined from the company's Bulqiza project in the Balkan country of Albania.
Under the deal, announced Friday, Empire will sell to APG the three per cent royalty as well as 6.7 million shares in return for more than $4.1 million in cash.
Anglo-Pacific is a global resources royalty company based in London, England.
Of the $4.1 million, $3.1 million must be used by Empire to develop the Bulqiza project.
Chromite is a rare earth metal widely used as a refractory material.
Under the deal, announced Friday, Empire will sell to APG the three per cent royalty as well as 6.7 million shares in return for more than $4.1 million in cash.
Anglo-Pacific is a global resources royalty company based in London, England.
Of the $4.1 million, $3.1 million must be used by Empire to develop the Bulqiza project.
Chromite is a rare earth metal widely used as a refractory material.
