03:49 PM EST - Ressources Minieres Pro-Or Inc. : has signed two agreements with Fer-Min-Ore (PTY) Ltd. The first agreement grants a license to FMO, for the use of Pro-Or's technology in South Africa. The license is exclusive, worldwide and irrevocable to the use of Pro-Or's rights for the recovery of PGM's and the upgrading of Chromite from ores/mining residues and talings, with the right to grant non-transferable sub-licenses to third parties. Rights does not cover the recovery of PGM's from catalytic converters. Pro-Or will receive a royalty of 0.5 per cent on all gross revenue generated from the plants owned and operated by FMO. The royalties from plants not owned and not operated by FMO will be negotiated between the parties on an ad hoc basis.The second agreement with FMO relates to the assistance and support of the commercial development of Pro-Or's plant located in St. Augustin, Quebec, for the recovery of PGM. Ressources Minieres Pro-Or Inc.
shares V.POI are trading down $0.01 at $0.28.
