Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


Mining Co. Buys Claims, Expands Land Package

Share on Stocktwits


The Quick Take

  • Puma Exploration agreed to acquire 100% interest in 30 claims contiguous to its flagship Williams Brook gold property in New Brunswick.
  • The claims, known as the Southeast Moose Brook property, span 662 hectares (662 ha).
  • The 662 ha will increase Puma's Williams Brook North land package to 20,662 ha.
  • The claims cover a prospective, minimally explored area.
  • Compensation for the claims includes CA$10,000 in cash up front plus 200,000 common shares issued in three tranches, milestone payments and a net smelter royalty.

This claims acquisition is the latest in a string of similar purchases over the past 15 months by Puma Exploration Inc. (PUMA:TSX; PUXPF:OTC PINK) to increase the footprint of its land holdings in an emerging mining district.

To acquire the Southeast Moose Brook property, according to the agreement, Puma will pay CA$10,000 and issue 50,000 of its common shares to the seller on closing. Puma then will issue another 50,000 common shares on the first anniversary of the agreement signing and 100,000 on the second anniversary.

As for milestone payments, when a positive preliminary economic assessment has been completed, Puma will pay the seller CA$25,000 in cash. Another CA$50,000 is due when a positive feasibility study is done. The last performance-related payment is CA$100,000, due with the start of commercial production on the property.

The seller will retain a 2% net smelter returns royalty on any production.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Puma Exploration Inc. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Puma Exploration Inc., a company mentioned in this article.

Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe