Royal Road Minerals' Subsidiary Qualifies for the Saudi Arabian Exploration Enablement Program
Royal Road Minerals announces that its 50% owned Saudi Arabian joint-venture company, Royal Road Arabia (RRA), has qualified for the Kingdom's Exploration Enablement Program. This program provides reimbursement of up to USD $2 million in exploration costs per exploration license. The qualification applies to RRA's Jabal Sahabiyah project, which includes three contiguous exploration licenses.
The Exploration Enablement Program (EEP) is designed to support exploration efforts over exploration licenses within their first five years, focusing on Greenfields sites. It allows for reimbursement of various exploration-related costs, including 25% of total drilling costs, 15% of talent and labour costs (up to USD $400,000), 70% of total local salary costs within the first 2 years (up to USD $400,000), and up to USD $1 million per license for geochemical analyses and other geoscience-related costs.
Royal Road Minerals annuncia che la sua joint venture in Arabia Saudita, Royal Road Arabia (RRA), di cui possiede il 50%, ha ottenuto l'approvazione per il Programma di Facilitazione dell'Esplorazione del Regno. Questo programma offre un rimborso fino a 2 milioni di dollari USA per i costi di esplorazione per ciascuna licenza di esplorazione. L'approvazione si applica al progetto Jabal Sahabiyah di RRA, che comprende tre licenze di esplorazione contigue.
Il Programma di Facilitazione dell'Esplorazione (EEP) è progettato per sostenere gli sforzi di esplorazione su licenze di esplorazione durante i primi cinque anni, con un focus su siti Greenfields. Consente il rimborso di vari costi legati all'esplorazione, inclusi il 25% dei costi totali di perforazione, il 15% dei costi per talenti e manodopera (fino a 400.000 USD), il 70% dei costi salariale locali totali nei primi 2 anni (fino a 400.000 USD), e fino a 1 milione di dollari per licenza per analisi geochimiche e altri costi legati alla geoscienza.
Royal Road Minerals anuncia que su empresa conjunta en Arabia Saudita, Royal Road Arabia (RRA), de la cual posee el 50%, ha calificado para el Programa de Facilitación de Exploración del Reino. Este programa proporciona reembolso de hasta 2 millones de dólares estadounidenses en costos de exploración por licencia de exploración. La calificación se aplica al proyecto Jabal Sahabiyah de RRA, que incluye tres licencias de exploración contiguas.
El Programa de Facilitación de Exploración (EEP) está diseñado para apoyar los esfuerzos de exploración sobre licencias de exploración durante sus primeros cinco años, enfocándose en sitios Greenfields. Permite el reembolso de varios costos relacionados con la exploración, incluyendo el 25% de los costos totales de perforación, el 15% de los costos de talento y mano de obra (hasta 400,000 USD), el 70% de los costos salariales locales totales en los primeros 2 años (hasta 400,000 USD), y hasta 1 millón de dólares por licencia para análisis geoquímicos y otros costos relacionados con las ciencias de la Tierra.
로열 로드 미네랄스는 자사가 50% 지분을 보유한 사우디 아라비아의 조인트 벤처 회사인 로열 로드 아라비아(RRA)가 왕국의 탐사 지원 프로그램에 인정받았다고 발표했습니다. 이 프로그램은 탐사 라이센스당 탐사 비용 최대 200만 달러를 보상합니다. 이 인정은 RRA의 자발 사하비야 프로젝트에 적용되며, 세 개의 인접한 탐사 라이센스를 포함합니다.
탐사 지원 프로그램(EEP)은 첫 5년 동안 탐사 라이센스에 대한 탐사 노력을 지원하기 위해 설계되었습니다, 그린필드 사이트에 중점을 두고 있습니다. 이 프로그램은 총 드릴 비용의 25%, 인재 및 노동 비용의 15% (최대 40만 달러), 첫 2년 동안 총 현지 급여 비용의 70% (최대 40만 달러), 그리고 지오화학 분석 및 기타 지구 과학 관련 비용에 대해 라이센스당 최대 100만 달러를 보상합니다.
Royal Road Minerals annonce que sa société de coentreprise en Arabie Saoudite, Royal Road Arabia (RRA), dont elle possède 50 %, a été qualifiée pour le Programme de Facilitation de l'Exploration du Royaume. Ce programme offre un remboursement allant jusqu'à 2 millions de dollars américains pour les coûts d'exploration par licence d'exploration. La qualification s'applique au projet Jabal Sahabiyah de RRA, qui comprend trois licences d'exploration contiguës.
Le Programme de Facilitation de l'Exploration (EEP) est conçu pour soutenir les efforts d'exploration pour les licences d'exploration durant leurs cinq premières années, en se concentrant sur des sites Greenfields. Il permet le remboursement de divers coûts liés à l'exploration, y compris 25 % des coûts totaux de forage, 15 % des coûts de talents et de main-d'œuvre (jusqu'à 400 000 USD), 70 % des coûts salariaux locaux totaux au cours des 2 premières années (jusqu'à 400 000 USD) et jusqu'à 1 million de dollars par licence pour des analyses géochimiques et d'autres coûts liés aux sciences de la Terre.
Royal Road Minerals gibt bekannt, dass ihre zu 50 % im Besitz befindliche Joint-Venture-Gesellschaft in Saudi-Arabien, Royal Road Arabia (RRA), für das Explorationsförderungsprogramm des Königreichs qualifiziert ist. Dieses Programm bietet eine Rückerstattung von bis zu 2 Millionen US-Dollar für Explorationskosten pro Explorationslizenz. Die Qualifikation gilt für RRA's Jabal Sahabiyah-Projekt, das drei zusammenhängende Explorationslizenzen umfasst.
Das Explorationsförderungsprogramm (EEP) ist darauf ausgelegt, die Explorationsbemühungen während der ersten fünf Jahre für Explorationslizenzen zu unterstützen, wobei der Schwerpunkt auf Greenfields-Standorten liegt. Es ermöglicht die Rückerstattung verschiedener explorationsbezogener Kosten, einschließlich 25 % der Gesamtdbohrkosten, 15 % der Talent- und Arbeitskosten (bis zu 400.000 USD), 70 % der gesamten lokalen Gehaltskosten in den ersten 2 Jahren (bis zu 400.000 USD) und bis zu 1 Million USD pro Lizenz für geochemische Analysen und andere geowissenschaftliche Kosten.
- Qualification for Saudi Arabia's Exploration Enablement Program
- Potential reimbursement of up to USD $2 million per exploration license
- Support for exploration efforts in the early stages of license tenure
- Opportunity for cost savings on various exploration activities
- None.
Provides for the reimbursement of eligible exploration expenses at its Jabal Sahabiyah project
Toronto, Ontario--(Newsfile Corp. - September 30, 2024) - Royal Road Minerals (TSXV: RYR) ("Royal Road" or "The Company") is pleased to announce that it's
Royal Road Arabia ("RRA") is a Saudi Arabian joint-venture company owned on a 50
The Exploration Enablement Program
The Government of Saudi Arabia has developed an Exploration Enablement Program (EEP) which is designed to support exploration efforts over exploration licenses within their first five years of tenure and with a focus on Greenfields sites. The EEP allows the qualified applicant to request a reimbursement of up to USD
Dr. Tim Coughlin, Royal Road's President and CEO, stated: "We are very grateful recipients of this exemplary and innovative initiative. The Exploration Enablement Program is an appreciable measure of Saudi Arabia's unrivalled approach to encouraging exploration investment. In our view, the Arabian Shield is one of the few pure grassroots environments which remains entirely open to the discovery of new and previously unconsidered styles of base and precious metals mineralization. The EEP comes at an opportune time as the global impact of resource depletion sets in and interest in mineral exploration recovers."
About:
Royal Road Minerals is a mineral exploration and development company with its head office and technical-operations center located in Jersey, Channel Islands. The Company is listed on the TSX Venture Exchange under the ticker RYR and on the Frankfurt Stock Exchange under the ticker RLU. The Company's mission is to apply expert skills and innovative technologies to the process of discovering and developing copper and gold deposits of a scale large enough to benefit future generations and modern enough to ensure minimum impact on the environment and no net loss of biodiversity. The Company currently explores in the Kingdoms of Saudi Arabia and Morocco. More information can be found on the Company's website www.royalroadminerals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement:
This news release contains certain statements that constitute forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively, "forward-looking statements") describing the Company's future plans and the expectations of its management that a stated result or condition will occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or developments in the Company's business or in the mineral resources industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-Looking statements include all disclosure regarding possible events, conditions or results of operations that is based on assumptions about, among other things, the Alliance, the intention to form a joint venture, enter into a related agreement and establish Newco and, more generally, future economic conditions and courses of action, and assumptions related to government approvals, and anticipated costs and expenditures. The words "plans", "prospective", "expect", "intend", "intends to" and similar expressions identify forward-looking statements, which may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-Looking statements of the Company contained in this news release, which may prove to be incorrect, include, but are not limited to the Company's exploration plans.
The Company cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. There is no guarantee that the anticipated benefits of the Company's business plans or operations will be achieved. The risks and uncertainties that may affect forward-looking statements include, among others: economic market conditions, anticipated costs and expenditures, government approvals, and other risks detailed from time to time in the Company's filings with Canadian provincial securities regulators or other applicable regulatory authorities. Forward-Looking statements included herein are based on the current plans, estimates, projections, beliefs and opinions of the Company management and the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
Contact
Royal Road Minerals Limited
info@royalroadminerals.com
+44 1534 887166
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FAQ
What is the Exploration Enablement Program that Royal Road Minerals' subsidiary qualified for?
How much reimbursement can Royal Road Minerals (RRDMF) receive through the Exploration Enablement Program?
What specific costs does the Exploration Enablement Program cover for Royal Road Minerals (RRDMF)?
Which project of Royal Road Minerals (RRDMF) qualified for the Exploration Enablement Program?
