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Under the terms, Washington state-based Hunt will deliver concentrate with a gold range of 30-70g per dry metric ton (dmt) and a silver range of 30-100kg per dmt. Hunt received an initial amount of US$1.5mn and will receive a further provisional payment upon shipment of the concentrate.
The proceeds will be used for working capital purposes and for concession fee costs related to its Taviche property in Mexico.
Vancouver-based NGEx Resources intends to sell on a non-brokered private placement basis up to 8mn common shares for gross proceeds of up to Cdn$10mn, to be used for ongoing work programs in Chile and Argentina and for general corporate purposes, a company statement said.
NGEx has the Constellation copper-gold project on the border of the two countries.