District Metals – Definitive Agreement Signed With Boliden On The Tomtebo and Stollberg Properties In Sweden, Sweden’s Uranium Moratorium Update
Garrett Ainsworth, President and CEO of District Metals (TSX.V:DMX) (“District”) joins me to discuss the October 30th news release announcing the signing of a Definitive Agreement with Boliden Mineral AB (“Boliden”) on the Tomtebo and Stollberg Properties in Sweden. Initially, Boliden will be granted the right to earn up an eighty-five percent (85%) interest in the Tomtebo Property. Following exercise of the Earn-In Option, the Tomtebo Property will be contributed to a joint venture, along with Boliden’s Stollberg Property, under which District will control an initial fifteen percent (15%) interest.
We start by recapping the terms of the agreement focused on the $10million in exploration expenditures that must be spend to earn the 85% interest, with a minimum of $3million at Tomtebo. Garrett then provides a background on the Stollberg Property. I ask Garrett when exploration will start and what Boliden is targeting on the Projects.
To wrap up, Garrett provides an update on where the government in Sweden stands on lifting the moratorium on exploration and mining of Uranium.
If you have any follow up questions for Garrett please email me at [email protected].