Mining & Metals
Canamera Signs Option Deal for 100% Interest in Ontario Rare Earths, Niobium Project
Canamera Energy Metals (EMET.CN) entered into an option agreement with Nemo Resources under which it may buy a 100% undivided interest in the Rare Earth Ridge rare earth element (REE) and niobium (Nb) project located in northwestern Ontario, it said on Wednesday.Canamera also has the right to buy one-half of the NSR royalty by making a one-time cash payment of C$2 million to the owner at any time."Given the scarcity of mineralized carbonatites globally, we believe this project offers compelling exploration potential and aligns well with our strategy of advancing high-quality critical minerals assets," said Canamera CEO Brad Brodeur.Shares of the company closed unchanged at C$0.335 on Tuesday on the Canadian Securities Exchange.
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