Canadian gold miner Globex Mining Enterprises Inc. has signed a deal to sell its interests in the Bell Mountain gold property in Nevada to a private U.S. company.
Globex announced Monday its wholly owned subsidiary, Globex Nevada, had signed an option agreement under which privately owned Platte River Gold can earn 100 per cent of the Nevada gold deposit.
Under the deal, Platte River must pay Globex nearly $1.2-million (U.S.) over four years, issue 110,000 shares and carry out at least $1.65-million in exploration on the Nevada property.
Globex said it will keep a two per cent royalty on all production and an additional one per cent net royalty on the first 75,000 ounces of gold and one-million ounces of silver produced from any open pit mining.
Globex is a Quebec-based exploration company with 46 projects in development.