ABOUT KINTAVAR EXPLORATION (KTR.V)
In 2017, GEOMEGA completed a spin-out transaction to help it focus on rare earth elements. As part of the transaction, all exploration assets not related to rare earths were sold to Kintavar Exploration Inc. Today GEOMEGA owns just under 19% of KINTAVAR and both companies share parts of its key management.
What is Kintavar today?
In 2017, KINTAVAR focused its exploration work on the Mitchi project which resulted in the discovery of stratiform copper mineralization (copper, silver, cobalt and more). The project consists of over 30,000 hectares and is located roughly in the midpoint between Val D’Or and Montreal. KINTAVAR continues to advance the MITCHI project as its flagship project.
In 2020, KINTAVAR has optioned off some of it’s gold exploration projects. In the first transaction, the Anik gold project was optioned to IAMGOLD as part of an option agreement to earn in up to 80% for a work commitment of $6,500,00 and potential payments of $3,000,000. Noteworthy because the main gold zones of the Nelligan deposit, a JV between IAMGOLD and Vanstar Mining, are surrounded to the north, south and east by the Anik project boundaries at a distance of less than 1,500 metres.
More specifically, KINTAVAR will be paid by IAMGOLD $400,000 in cash upon the first declaration of a minimum 300,000 ounces of gold in a qualifying 43-101 indicated mineral resources. IAMGOLD will also issue a payment of $1,000,000 in cash and/or common shares at the decision to develop a first mine and again at the declaration of commercial production for total payments up to $2,400,000. IAMGOLD is committed to staged cash payments totalling $600,000 and $4,000,000 exploration expenditures over 5 years for first 75% interest with further terms to earn 80% of the Anik gold project. That news was first announced May 28, 2020.
In the second transaction, KINTAVAR optioned two gold properties to GITENNES EXPLORATION. GITENNES EXPLORATION is in the business of exploring for and advancing mineral properties with a focus on high-grade gold. They have a 1% Net Smelter Return royalty on the 18 million-ounce Urumalqui Silver Project in Peru. They also have an option to an 85% interest in the RAL and New Mosher properties from KINTAVAR for a minimum of $2,500,000 in exploration spending with additional payment of shares and cash to KINTAVAR. Details of this transaction were announced on June 29, 2020.
Combined with it’s own MITCHI project, KINTAVAR has 3 exploration projects underway. One with the help of IAMGOLD, who produced approximately three quarters of a million ounces in 2019, and the other projects with GITENNES, who is an exploration company with no production. KINTAVAR is an exploration company with GEOMEGA as its largest shareholder. Other significant shareholders include the Caisse de dépôt et placement du Québec (over 12%) and several other institutional and private equity investors that own together over 20%. Learn more about our exploration at the MITCHI project.
Learn more about our exploration at the MITCHI project.
HiddenTreasures: Kintavar ExplorationStockPulse, December 20th 2019.TRANSCRIPT - Text quotes KIRIL MUGERMAN, CEO of KINTAVAR unless otherwise noted. This episode features KINTAVAR EXPLORATION. Ticker KTR on the Venture Exchange. CEO KIRIL MUGERMAN now ALLAN BARRY, hello. ALLAN BARRY: Thank you for joining me, it's Allan Barry Laboucan from the Allan Barry Report and StockPulse.