Vancouver's Redcorp Ventures Ltd. (TSX:RDV) and it's wholly-owned subsidiary, Redfern Resources Ltd. plans to sell all of the gold from a mining project in northwestern B.C. for US$90 million.
The deal will see Kadywood Capital Corp. make staged, upfront payments to Redcorp plus US$400 per ounce produced from Redcorp's Tulsequah Chief Mine, which is currently under development.
Redcorp will receive a US$10 million payment upfront upon receipt of environmental and operation permits.
Redcorp's share price range during the past week: between $0.205 and $0.215; 52-week high: $0.57; 52-week low: $0.135.