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Solitario Exploration & Royalty and Metallic Ventures Gold Inc. Enter into Arrangement Agreement to Acquire All Outstanding Shares of Metallic Ventures.

Publication: Mining & Minerals Business
Publication Date: 11-SEP-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Solitario Exploration & Royalty Corp. (NYSE Amex:XPL) (TSX-TO:SLR) ("Solitario") and Metallic Ventures Gold Inc. (TSX-TO:MVG) ("Metallic Ventures") announced the entering into of a definitive arrangement agreement (the "Agreement") whereby Solitario will acquire, through a friendly plan of arrangement, all outstanding shares of Metallic Ventures.

The centerpiece of Metallic Ventures' property assets includes its producing 3% Net Smelter Return Royalty on Barrick Gold's Ruby Hill gold mine located in Nevada. Royalty income has averaged US$0.93 million per quarter during the past eight quarters. Combined, Solitario and Metallic Ventures will own four advanced-stage mineral exploration properties. These include Solitario's high-grade Bongara zinc property in Peru (joint ventured with Votorantim Metais) and its advanced Pedra Branca platinum-palladium property in Brazil (joint ventured with...

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