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Last C$4.10 CAD
Change Today +0.10 / 2.50%
Volume 37.3K
RMC On Other Exchanges
As of 12:47 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

reservoir minerals inc (RMC) Snapshot

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52 Week High
08/11/14 - C$6.15
52 Week Low
11/6/14 - C$3.30
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reservoir minerals inc (RMC) Details

Reservoir Minerals Inc. engages in the identification, acquisition, and exploration of precious and base metal deposits, and other resource opportunities in Europe and West Africa. The company has a portfolio of 12 exploration licenses in Serbia, which include gold, silver, copper, lead, and zinc exploration projects; and a portfolio of 4 exploration licenses in Cameroon and Gabon. It also conducts exploration activity in Macedonia, Romania, and West Africa. Reservoir Minerals Inc. was incorporated in 2011 and is headquartered in Vancouver, Canada.

Founded in 2011

reservoir minerals inc (RMC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$250.0K
Chief Financial Officer
Total Annual Compensation: C$23.2K
Chief Operating Officer
Total Annual Compensation: C$54.4K
Vice President of Corporate Development
Total Annual Compensation: C$120.0K
Vice President of Exploration
Total Annual Compensation: C$47.7K
Compensation as of Fiscal Year 2014.

reservoir minerals inc (RMC) Key Developments

Reservoir Minerals Inc. Terminates Parlozi Option Agreement with Midlands Minerals Corporation

Reservoir Minerals Inc. Minerals Inc. reported that the Parlozi option agreement with Midlands Minerals Corporation has been terminated as of May 6, 2015. The results of the recent exploration campaigns have refined the company's model of carbonate-hosted, high-grade silver-lead-zinc mineralization in the Parlozi permit, and identified new targets for shallow drilling around a strong geophysical anomaly interpreted to be a buried intrusive. Reservoir will be actively searching for a new partner to test these and other targets in the permit, which lies in the highly prospective belt of silver-lead-zinc mineralization extending from Macedonia to Serbia and including the productive Trepca mines.

Reservoir Minerals Inc. Executes Joint Venture and Shareholders Agreement with Freeport-McMoRan Exploration Corporation

Reservoir Minerals Inc. reported that it has concluded the Joint Venture and Shareholders Agreement (JVSA) to further explore and develop the Timok Project in Serbia with Freeport-McMoRan Exploration Corporation and that on March 11, 2015 the board of directors of the Rakita (BVI) Ltd. (JV Company) approved a 2015 budget of $18.7 million to move the Timok Project forward toward the completion of a scoping study. The five member board of directors of the JV Company is comprised of three Freeport nominees and two Reservoir nominees. Reservoir have completed the Timok project Joint Venture and Shareholders Agreement with partner Freeport and to have agreed on a substantial 2015 budget that will be solely funded by Freeport. Infill drilling of the Cukaru Peki high grade copper-gold massive and semi massive sulphide mineralization will focus on improving the confidence in the resource estimate in the 'Upper Zone', and additional technical studies will support a scoping study, including reviewing options to mine high grade direct shipping mineralization. Exploration drilling will continue to define the limits to the extensive footprint of the Cukaru Peki copper-gold porphyry mineralization in the 'Lower Zone' which remains open to the west, north and east. The JVSA is based on the terms of the Earn-in Agreement dated March 18, 2010 (EIA) between Reservoir and Freeport. Under the EIA, Freeport exercised its option to acquire an initial 55% equity interest in the JV Company on May 4, 2012 and is the Timok Project's operator. Freeport may earn an additional 20% equity interest in the JV Company bringing its total equity interest in the JV Company to 75% and Reservoir's to 25%, by electing to sole fund the Timok Project work programs and delivering a feasibility study to Reservoir, during the period commencing on the Exercise Date and ending on the earlier of (i) the delivery of a feasibility study; (ii) the decision by Freeport to cease sole funding prior to the delivery of a feasibility study; and (iii) May 4, 2025. The feasibility study must be prepared by Freeport or an internationally recognized, reputable and experienced third party, engaged by and working under the direction of Freeport, that demonstrates the feasibility or infeasibility of placing part or all of the Timok Project into commercial production, in such form as is normally required by substantial, internationally recognized financial institutions for the purpose of deciding whether or not to loan funds for the development of mineral deposits. If Freeport delivers the feasibility study and acquires the Additional Interest, Freeport will be entitled to recoup from Reservoir 25% of the aggregate costs and expenses funded by Freeport from the Exercise Date through to the delivery of the feasibility study out of Reservoir's share of distributions, up to a maximum amount of $25 million. Freeport and Reservoir may purchase their pro rata share of production of the JV Company.

Reservoir Minerals Inc. Presents at European Gold Forum, Apr-14-2015 02:10 PM

Reservoir Minerals Inc. Presents at European Gold Forum, Apr-14-2015 02:10 PM. Venue: Zurich, Switzerland.


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