Royalty Agreement
OR Royalties
On August 30, 2017, Cornish Metals agreed to sell a 1.5% Net Smelter Returns royalty to OR Royalties Inc. (formerly Osisko Gold Royalties Ltd.)(TSX-OR) on all metals and minerals produced from the South Crofty tin project in Cornwall, UK, for $7.17 million. On February 2021, OR converted its C$7.17 million senior secured convertible note into a 1.5% Net Smelter Return royalty with respect to the South Crofty tin project and a 0.5% NSR royalty on other mineral rights held by Cornish Metals in Cornwall.