Meteoric Resources signed an agreement to sell Juruena Gold Project

Meteoric Resources NL (ASX: MEI) announced that it has entered into a legally binding agreement with Keystone Resources Ltd, a 100% owned subsidiary of Alchemist Investments Inc., for the sale of Juruena Gold Project in Brazil for up to US$22,000,000 (AUD$30,000,000).

The company will receive US$2,500,000 cash upon completion. After six months of completion it will receive US$7,500,000, then US$10,000,000 cash twelve months after completion, along with 2% gross Royalty, which is capped at US$2,000,000 cash.

The proceeds from the transaction would enable the company to increase exploration and development activities at its Palm Springs Gold Project while seeking to maximize shareholder value via acquisition and investment in complementary resources projects.

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