Local News

Rockcliff Continues to Increase its Ownership in a Property Near Snow Lake.

Rockcliff Metal Corporation has announced it has completed all work required to earn a 51 percent ownership interest in the Talbot property near Snow Lake pursuant to its option agreement with Hudbay.  Rockcliff has incurred the 6.12 million dollars in expenditures required to earn its 51 percent interest in the property.  They have delivered written notice advising Hudbay of the achievement of this milestone.  They report Hudbay has a 24 month back in right to acquire an additional 2 percent ownership interest raising their ownership stake to 51 percent resulting in Hudbay becoming the operator of the property taking it into production with Rockcliff retaining a 35 percent interest through life of mine.  If Hudbay does not exercise its back in right Rockcliff as operator could take the property into production and earn a minimum 65 percent interest in the property.

 

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