DRAGON MINING (01712): Received the first net smelting return royalty payment of 103,700 from Endomines Oy for gold produced at the Pampalo gold mine in eastern Finland.
Long Resources (01712) announced that it has received the first net smelter return royalty payment of 103,700 from Endomines Oy for gold produced from the Pampalo gold mine operation in eastern Finland. Long Resources sold the Pampalo gold mine and related mining rights (mining assets) to Endomines Oy in 2006 for a one-time payment of 6.2 million and a net smelter return of 1.0% (up to 1.5 million can be paid for gold produced after 203,000 ounces of gold have been produced from the mining assets).
DRAGON MINING (01712) announced that it has received the first net smelter return royalty payment of 103,700 from Endomines Oy for the production of gold from its Pampalo gold mine operations in eastern Finland. DRAGON MINING sold the Pampalo gold mine and related mining rights (mining assets) to Endomines Oy in 2006 for a one-time payment of 6.2 million and a 1.0% net smelter return (the additional payment can reach up to 1.5 million after the production of 203,000 ounces of gold from the mining assets).
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