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Ravello Investment Group Buys Royal Road’s Subsidiary
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Tigris Eurasia Madencilik Sanayi ve Ticaret Limited Şirketi, the Turkish subsidiary of Royal Road Minerals was sold to Ravello Investment Group Limited. Ravello will own exploration and mining licenses of Pertek project, exploration database for Turkey, and certain other equipment and assets related to former operations of Tigris in Turkey.

According to the announcement that Royal Road made, the company will receive a cash payment of US$250,000 on the completion of transaction. Ravello also agreed to pay to the Royal Road an aggregate royalty equal to 1% of the net smelter returns from the sale of all mineral products that are produced or extracted by or on behalf of Tigris from its properties comprising the Pertek project and any new further properties acquired through use and application of the Tigris’ existing exploration database. 


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Keywords : Royal Road  
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