Blue Moon Metals Acquires Nine Mineral Claims in Nevada
Blue Moon Metals (MOON.V) is acquiring claims adjacent to the Springer Tungsten Mine in Nevada, from GoldPlay LLC and Robert Schafer for 188,199 shares and US$1.0 million cash, the company said on Tuesday.The transaction also includes a sliding scale gross revenue royalty (GRR) on the concessions. Blue Moon may buy down the GRR to 1.5% for a period of three years for a cash payment of US$2.0 million.The claims consist of nine unpatented mineral claims and cover a portion of some historically identified veins, and have seen high-grade drill results such as 1.0m @ 3.95% tungsten trioxide.The acquisition is expected to be completed by early May.Blue Moon shares were last seen down $0.91 to $10.00 on the TSX Venture Exchange.Price: $9.99, Change: $-0.92, Percent Change: -8.43%