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Royal Road tweaks earn-ins at Turkey properties

Published: 01:30 22 Apr 2015 AEST

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Royal Road Minerals (CVE:RYR) has tweaked its earn-in options at the Gömeç, Gökçeada and Ispir copper/gold licences in Turkey.

Royal Road Minerals (CVE:RYR) has tweaked its earn-in options at the Gömeç, Gökçeada and Ispir copper/gold licences in Turkey. 

Tim Coughlin, Royal Road’s chief executive, said:  “The ability to receive 20% of sales proceeds as a private placement on license transactions before we have earned our equity ownership is a meaningful addition to the agreement and testament to the great partnership we have in Turkey.”

“The concession on earn-in terms also helps us manage our capital requirements until the end of next year. 

“The next decision gate on the Option Agreement will follow the drilling campaign at Gömeç which is expected to be underway by June of this year.”  

Royal Road has an option to acquire up to a 50% equity interest in the properties in two stages. Up until April 20, it had spent approximately US$800,000 on exploration on the option licences.

Royal Road was formerly called Tigris Resources.

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