{"id":17257,"date":"2019-08-08T09:30:24","date_gmt":"2019-08-08T16:30:24","guid":{"rendered":"https:\/\/www.nuheara.com\/peru-mining-tenements-sale\/"},"modified":"2021-08-17T22:08:39","modified_gmt":"2021-08-17T22:08:39","slug":"peru-mining-tenements-sale","status":"publish","type":"post","link":"https:\/\/www.nuheara.com\/usa\/news\/peru-mining-tenements-sale\/","title":{"rendered":"Nuheara Sale of Peru Mining Tenements"},"content":{"rendered":"

8 August 2019 \u2013 Perth, Australia<\/strong><\/p>\n

Nuheara Limited (ASX: NUH) (“Company<\/strong>” or “Nuheara<\/strong>“), is pleased to announce that it has entered into a Mining Concessions Transfer Agreement (the \u201cTransfer Agreement\u201d) for the sale of its mining concessions in southern Peru.
\nThe mining concessions are held by Nuheara\u2019s wholly owned subsidiary, Wild Acre Metals (Peru) SAC and consist of the following tenements:<\/p>\n

MINING TENENMENT REGISTER<\/strong><\/p>\n

\n\n\n\n\n\n\n\n\n
Peru Location<\/th>\nTenement<\/th>\nInterest %<\/th>\n<\/tr>\n
Sambalay 1<\/td>\n010180210<\/td>\n100%<\/td>\n<\/tr>\n
Sambalay 2<\/td>\n010180310<\/td>\n100%<\/td>\n<\/tr>\n
Sambalay 3<\/td>\n010185310<\/td>\n100%<\/td>\n<\/tr>\n
Salvador<\/td>\n010227410<\/td>\n100%<\/td>\n<\/tr>\n
Salvador<\/td>\n010328310<\/td>\n100%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Under the Transfer Agreement entered with Corisur Peru SAC (\u201cCorisur\u201d), a subsidiary of Auryn Resources Inc. (TSX:ARG), Corisur will pay US$250,000 for the transfer of the concessions upon recording of the Transfer Agreement with the Peruvian Public Registry.
\nCommenting on the transaction, Nuheara\u2019s Chief Financial Officer, Jean-Marie Rudd, said \u201cthe sale of the mining concessions to Corisur continues Nuheara\u2019s previously disclosed strategy of divesting mining assets to focus on the Company\u2019s core business model in the hearing health space. Realising capital from the sale of these interests provides additional Capacity to the company\u2019s treasury which, in addition to the Company\u2019s recent successful capital raise, will support the development of IQbuds MAXTM, on track for production later this year, and additional marketing efforts in support of the Company\u2019s sales strategy realignment.\u201d<\/p>\n

Nuheara\u2019s remaining portfolio of mining assets consists of Net Smelter Royalties (\u201cNSR\u201d) located in Northern Peru and Western Australia. These interests are actively being marketed for sale and the Company intends to dispose of these interests as soon as it is commercially practical to do so.<\/p>\n

A brief summary of the two NSR interests follows:<\/p>\n

Northern Peru<\/strong><\/p>\n

Through its 80% interest in Terrace Gold Pty Ltd (\u201cTerrace\u201d), Nuheara holds a 0.5% NSR over the El Molino Gold Project and part of the El Galeno Copper Gold Project located in Northern Peru. These projects are currently owned under joint venture by China Minmetals Corporation and Jiangxi Copper. China Minmetals has publicly stated that the El Galeno Copper-Gold Project is expected to be completed and put into operation in 2020 with a service life of 22 years.<\/p>\n

Western Australia<\/strong>
\nNuheara holds a 1.5% NSR over the Mt Ida South\/Quinns gold projects located in Western Australia and currently owned by Alt Resources Ltd (ASX:ARS).<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Tenement<\/th>\nProject<\/th>\n<\/tr>\n
E 29\/649<\/td>\nQuinns Project<\/td>\n<\/tr>\n
E 29\/748<\/td>\nQuinns Project<\/td>\n<\/tr>\n
E 29\/790<\/td>\nMt Ida South Project<\/td>\n<\/tr>\n
E 29\/930<\/td>\nQuinns Project<\/td>\n<\/tr>\n
E 29\/943<\/td>\nQuinns Project<\/td>\n<\/tr>\n
E 29\/997<\/td>\nQuinns Project<\/td>\n<\/tr>\n
M 29\/36<\/td>\nQuinns Project<\/td>\n<\/tr>\n
M 29\/37<\/td>\nQuinns Project<\/td>\n<\/tr>\n
M 29\/421<\/td>\nMt Ida South Project<\/td>\n<\/tr>\n
M 29\/65<\/td>\nQuinns Project<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

The Mt Ida Gold Project encompasses the Mt Ida South and the Quinn\u2019s Mining Centre projects, located approximately 90 kilometers west of Leonora. These projects lie on the Ballard Fault which is host to a near-continuous mineralised sequence, including the known JORC resources contained at the Matisse and Quinn Hills deposits in the north, and the Mount Ida South Project including the Spotted Dog, Tim\u2019s Find and Shepherd\u2019s Bush deposits in the south.<\/p>\n

\n

CONTACTS<\/strong>
\nAustralia<\/strong>
\nJustin Miller
\nCEO and Managing Director
\n+61 8 6555 9999
\njustin.miller@nuheara.com<\/a><\/p>\n

Media<\/strong>
\nRanya Alkadamani
\n+61 434 664 589
\nranya@impactgroupinternational.com<\/a><\/p>\n

About Nuheara<\/strong><\/p>\n

Nuheara is a global leader in smart personal hearing devices which change people\u2019s lives by enhancing the power to hear. Nuheara has developed proprietary and multi-functional intelligent hearing technology that augments a person\u2019s hearing and facilitates cable free connection to smart devices. Nuheara is based in Perth, Australia and has an office in New York, USA. Nuheara was the first consumer wearables technology company to be listed on the Australian Stock Exchange (ASX).<\/p>\n

In 2016, the Company released its revolutionary wireless earbuds, IQbudsTM<\/sup>, which allow consumers to augment their hearing according to their personal hearing preferences and connect hands free with their voice-enabled smart devices. Nuheara products are now sold in major consumer electronics retailers, professional hearing clinics and optical chains around the world.<\/p>\n

The Company\u2019s mission is to transform the way people hear by creating smart hearing solutions that are both accessible and affordable.<\/p>\n

Learn more about Nuheara: www.nuheara.com.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

8 August 2019 \u2013 Perth, Australia Nuheara Limited (ASX: NUH) (“Company” or “Nuheara“), is pleased to announce that it has entered into a Mining Concessions Transfer Agreement (the \u201cTransfer Agreement\u201d) for the sale of its mining concessions in southern Peru. The mining concessions are held by Nuheara\u2019s wholly owned subsidiary, Wild Acre Metals (Peru) SAC […]<\/p>\n","protected":false},"author":1,"featured_media":20272,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"categories":[8],"tags":[149,150,151,152,153],"class_list":["post-17257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-announcements","tag-mining-concessions","tag-mining-tenements","tag-peru","tag-transfer-agreement","tag-western-australia"],"acf":[],"yoast_head":"\nSale of Peru Mining Tenements | Nuheara USA<\/title>\n<meta name=\"description\" content=\"Perth, Australia Nuheara Limited (ASX: NUH) ("Company" or "Nuheara"), is pleased to announce that it has entered into a Mining Concessions\" \/>\n<meta name=\"robots\" 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