Blue Moon closes nine WO Claims acquisition for US$1M and 188k shares
BMM•Blue Moon Metals closed acquisition of nine unpatented WO Claims adjacent to its Springer tungsten project by issuing 188,199 common shares and paying US$1 million cash. It granted a sliding-scale 3.0–5.0% gross revenue royalty on the claims with a three-year option to buy down to 1.5% for US$2 million.
1. Acquisition Terms
Blue Moon Metals closed its acquisition of a 100% interest in nine unpatented WO Claims adjacent to the Springer tungsten-molybdenum project by issuing 188,199 common shares and paying US$1 million in cash, with no finders’ fees.
2. Royalty Agreement
The agreement grants the sellers a gross revenue royalty ranging from 3.0% to 5.0% on any production from the WO Claims, with Blue Moon holding a three-year option to buy down the royalty to 1.5% for a cash payment of US$2.0 million.
3. Strategic Importance
The WO Claims expand the Springer project’s footprint in Nevada, bolstering Blue Moon’s tungsten portfolio alongside its four other polymetallic projects in North America and Norway; tungsten is listed as a critical mineral for global supply chains.
