Loading ...Todd Hoffman … mining giant! đ
Klondike Gold Announces Lease Agreement with Todd Hoffmanâs Jerusalem Mining
VANCOUVER, British Columbia–(BUSINESS WIRE)–
Klondike Gold Corp. (KG.V) (âKlondike Goldâ or the âCompanyâ) announces that the Company has entered into a lease agreement with Jerusalem Mining LLC (âJerusalem Miningâ) whereby Klondike Gold assigns to Jerusalem the rights and permits to placer mine on the McKinnon Creek property, Yukon. Under the terms of the lease agreement, Klondike Gold will receive from Jerusalem a direct 15% production royalty payable in raw gold and will receive an additional 5% on behalf of an underlying, pre-existing royalty holder. The lease agreement is subject to a minimum annual payment by Jerusalem Mining to Klondike Gold of 100 ounces raw gold or cash equivalent. As of October 2014 this payment to Klondike Gold has been made. The lease agreement is renewable annually for three years subject to annual approval by both parties. As of October 2014 the lease for 2015 has been approved by both parties. The agreement also acknowledges that during the term of the lease as part of the development and production activities Jerusalem Mining will be allowing employees and agents of Discovery Channel television access to the McKinnon Creek property.
The principal of Jerusalem Mining is Todd Hoffman. Todd Hoffman and his âcrewâ are prominently featured on the Discovery Channel (USA) cable TV show âGOLD RUSHâ which focuses on the trials of the Hoffman crew mining for placer gold. GOLD RUSH is Discovery Channelâs #1-rated show and is distributed to 100.8 million U.S. homes and over 200 million households globally in 210 countries.
GOLD RUSH returned for its fifth season on Friday, October 17 at 9 PM ET/PT in the United States, and will air as a 2-hour special in Canada Tuesday, October 21 at 8 PM ET/PT, and weekly thereafter at 9PM ET/PT. Klondike Gold and Peter Tallman, the Companyâs President and CEO will be featured in the first episode and periodically throughout Season 5.
Peter Tallman, states âThe lease agreement with the âHoffman crewâ represents a positive business opportunity for Klondike Gold in terms of increasing production at McKinnon Creek while decreasing Klondikeâs operating and carrying costs. Additionally, it has been a pleasure to work with Todd, his crew, and the film crew personnel on an interesting mining season. We look forward to watching the fun fifth season of GOLD RUSH.â
more http://finance.yahoo.com/news/klondike-gold-announces-lease-agreement-131000183.html