NEWS ROUNDUP — Crystallex strikes Albino deal

Junior Crystallex International (VSE) has reached an agreement with Eurus Resources (VSE) to acquire all of the Albino property in southeastern Venezuela.

In return for transferring its right to a half interest in Albino to Crystallex, Eurus will receive stock and a royalty interest. The share payment includes 750,000 units of Crystallex, with each unit comprising one share and half a warrant. Each warrant is exercisable at $8 in the first year and $9 in the second.

Eurus also retains a 2% net smelter royalty on 150,000 oz. of surficial production and a 1% net smelter royalty on any hard rock production from the Albino claims.

Crystallex, which recently underwent a change in management, retains the right to buy the 1% royalty in return for 200,000 shares.

Meanwhile, the company is installing and modifying a cyanide-leach mill on site to process surficial deposits and tailings.