en.Wedoany.com Reported - Oreterra Metals (TSX-V:OTMC) has completed a revised agreement granting Enduro Metals an option to acquire up to a 50% interest in Oreterra's 2% net smelter return royalty on the Newmont Lake project in British Columbia.

The option consideration includes 3.9 million shares issued to Oreterra at closing, and total cash payments of C$550,000 (approximately US$555,502.12) over two years, of which C$175,000 has been paid in advance. Based on current market prices, the total initial consideration is approximately C$1.1 million.

Potential future payments total up to C$22 million, covering staged cash payments and advance royalty payments. These include: C$500,000 upon delivery of the first NI 43-101 compliant resource estimate; C$1.75 million in cash and C$1.75 million in advance royalty payments upon completion of a feasibility study; and C$10 million upon Oreterra's decision to advance mine permitting. Additionally, Enduro Metals must pay C$8 million in a buyback prior to production to acquire 50% of the remaining net smelter return royalty.

The second amended agreement also stipulates a minimum share price of C$0.135 per share for any future stock consideration payable to Oreterra.

Given that Enduro Metals' Chief Financial Officer Malcolm Davidson also serves as a director of Oreterra, the transaction has been approved by Oreterra's disinterested directors.

Following the transaction, Oreterra retains a 1% net smelter return royalty on the Newmont Lake project. The project is adjacent to Oreterra's Trek-Andrei claims in British Columbia's Golden Triangle region.

Oreterra Metals is a Canadian mineral exploration company focused on advancing its flagship Trek South porphyry copper-gold project in the Golden Triangle, while holding a portfolio of gold, silver, and copper assets in Nevada and Ontario.

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