Junior Aura Energy has inked a C$4.5-million funding term sheet to create a joint venture (JV) vehicle with TSX-listed Chilean Metals for its gold, base metals and battery metal tenements in Mauritania.
Chilean will pay the C$4.5-million in four scheduled payments before October 2021, along with one-million of its own shares to Aura, in exchange for a 50% interest in the JV, which will hold Aura’s gold and base metal licenses in Mauritania.