EDM Resources Inc (TSE:EDM) has released an update.
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EDM Resources Inc. has signed a Letter of Intent with Silver Crown Royalties to sell a significant portion of its expected annual silver output from the Scotia Mine. The deal entails a $1 million silver royalty agreement, ensuring SCRi receives no less than 7,000 ounces of silver annually for ten years. This strategic move will monetize EDM’s by-product silver, securing upfront cash and stock unit payments while adhering to the terms outlined, pending the final agreement.
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