VANCOUVER, BC--(Marketwired - September 23, 2016) - Oroco Resource Corp. (
The Company continues to hold a royalty on gold production from the Cerro Prieto mine payable for each month in which the monthly average of the daily PM London gold fix is in excess of $1,250 per ounce, calculated at the rate of 20% of the dollar value of that excess for each ounce of gold produced from the property, to a maximum royalty of US$90 per ounce. The royalty will be payable on the greater of:
- the first 90,000 ounces of gold produced from the Property; or
- all ounces of gold produced from the Property until the completion of five full years of Commercial Production, which period commenced on March 1, 2014.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
For further information, please contact:
Mr. Craig Dalziel
President and CEO
Oroco Resource Corp.
604-688-6200