Ximen Mining Corp. (V.XIM) reached a 52-week high of 30 cents Thursday. Ximen provided an update on the Gold Drop Property which is currently under option agreement to GGX Gold Corp. (TSX-V: GGX) and located near Greenwood in southern British Columbia. To date Ximen has received the first two of four option payments, which consists of Stock and Cash, from GGX Gold Corp.
Once all the payments and work commitments have been completed, Ximen will have a 2.5% NSR and the right for nine months thereafter to elect to form a joint venture with the GGX Gold by paying to GGX Gold the amount of money equal to 30 per cent of the total amount expended on the property by the GGX Gold. If Ximen exercises this joint venture right, Ximen and GGX Gold will enter into a joint venture for the exploration and development of the property.
Largo Resources Ltd. (T.LGO) reached a 52-week high of $4.65 Thursday. No news announcements today
