Global Energy Metals Corp. has made a strategic move to expand its portfolio by entering into a new agreement with Terra Balcanica Resources Corp. This decision follows the termination of its previous agreement with Fulcrum Metals Plc.
As part of the termination, Global Energy Metals will receive compensation equivalent to C$150,000 in shares in Terra upon the closing of the option agreement between Terra and Fulcrum. Additionally, the company will be granted a 0.5% Net Smelter Returns (NSR) royalty over the Saskatchewan-based project portfolio, which encompasses 596.71 square kilometers of highly prospective ground for uranium discovery.
According to Global Energy Metals CEO Mitchell Smith, the project portfolio ‘targets major NE-SW trending structures along strike from historic uranium mines and projects.’ This new agreement will bolster the company’s existing project, royalty, and equity portfolio to now include uranium, further demonstrating its ability to ‘monetize assets for the benefit of shareholders,’ as stated by Smith.
The strategic partnership with Terra Balcanica Resources Corp. facilitates a new agreement between Fulcrum and Terra, where Terra intends to acquire a 100% interest in Fulcrum’s uranium projects. This move aligns with Global Energy Metals’ strategy to expand its portfolio and capitalize on promising opportunities in the uranium sector. The new strategic partnership positions the company for potential growth and value creation in the uranium market.
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