The Mt. Hamilton gold project is held by Mt. Hamilton, which is 80%-owned by Solitario, wile remaining 20% held by Ely.
The company received an upfront payment of $6.0m upon signing the agreement and will receive a future cash remittance of $4.0m on 15 January 2013.
According to the deal, Mt. Hamilton will have the option, for a period of 30 months, to repurchase up to 100% of the NSR for $12m, provided that Solitario enters into a gold stream agreement with Sandstorm that has an upfront deposit of no less than $30m.
Mt. Hamilton in addition has provided Sandstorm with a right of first refusal on any future royalty or gold stream financing for the Mt. Hamilton project.
