An option agreement has been completed between Tandem Resources and Ayrex Resources. The deal gives Ayrex the right to earn a 50% interest in Tandem’s Frond Lake gold prospect near Fort Hope, Ont.
Ayrex can earn its interest by issuing 400,000 shares of Ayrex to Tandem. Also, Tandem will earn an additional 500,000 Ayrex shares by making exploration expenditures of $500,000 on the property on behalf of Ayrex.
An agreement has also been completed between Tandem and MVP Exploration and Co. which will see MVP take down $500,000 of Tandem stock on a flow-through share basis.
Be the first to comment on "Tandem/Syrex deal"