10:37 AM EDT, 03/19/2025 (MT Newswires) -- Aurion Resources ( AIRRF ) was at last look up 4% and nearer 52 week highs on Wednesday after the company signed a definitive agreement that it will see it grant KoBold Exploration Finland Oy, unit of KoBold Metals Company, the right to earn an undivided 75% interest in an area covering about 35 km square in the eastern portion of Aurion's 100% owned 160 sq km Risti Property.

A statement noted Aurion retains the rights to explore for and develop any portions of the project area where the predominant mineral in a discovery is gold or silver.

Among deal highlights, KoBold can earn an undivided 75% interest in commodities discovered by incurring US$12 million in exploration expenditures on or before the fifth anniversary of the date of signing the agreement, and KoBold commits to a US$1 million minimum exploration expenditure within 18 months. A joint venture will be established with KoBold owning 75% and Aurion 25% following satisfaction by KoBold of the earn-in needs.

In case an ownership interest in the joint venture is diluted to below 10%, the ownership interest will be converted to a 2% Net Smelter Returns Royalty.

"The agreement with a split commodity structure enables Aurion to retain full exploration and ownership rights over significant gold and silver discoveries while leveraging KoBold's expertise in exploration for metals and minerals important for the green energy transition," said Aurion Chief Executive Matti Talikka.

Shares of the company were last seen up $0.030 at $0.750 on the TSX Venture Exchange, leaving it shy of a 52 week high $0.78.

Price: 0.75, Change: +0.03, Percent Change: +4.17