Grafton Resources secures exclusive option to buy Newmont’s Chilean Poseidon and Jabali projects for US$2.54 million
NEM•Grafton Resources entered an exclusive option to acquire 100% of Newmont’s Poseidon and Jabali projects in Chile for US$630,000 in cash and US$1.91 million in shares, staged over three years from Sept. 21, 2026.
1. Option terms
Grafton Resources entered an exclusive option to acquire 100% of Newmont’s Poseidon gold-silver-copper project and Jabali gold project in Chile. Total consideration is US$630,000 in cash and US$1.91 million in Grafton shares, staged over three years from Sept. 21, 2026.
2. Project details
Poseidon is next to Grafton’s Alicahue project, bringing the combined area to 14,383 hectares of contiguous concessions targeted for epithermal mineralization. Jabali covers 228.9 square kilometers in Aysén, remains undrilled, and has drill-preparation infrastructure largely completed.
3. Royalties and milestones
The deal includes net smelter return royalties of 1.5% at Poseidon and 1% at Jabali, plus a US$2.5 million resource milestone and a US$3 million production milestone.
