06:53 AM EDT, 05/14/2024 (MT Newswires) -- Filo Corp. ( FLMMF ) said overnight Monday that NGEx Minerals ( NGXXF ) and Lundin Mining ( LUNMF ) will jointly repurchase two-thirds of the existing 3% net smelter royalty attached to three mineral claims in San Juan Province, Argentina.

The claims, which are Nacimiento 1, Nacimiento 2, and Vicuna 4, cover NGEx's Lunahuasi and Lundin Mining's ( LUNMF ) Cumbre Verde copper-gold-silver projects.

In consideration for the joint repurchase, Filo ( FLMMF ) will receive $2 million cash consideration, and following the closing of the transaction, Filo ( FLMMF ) retains a 1% NSR over the claims.

Filo ( FLMMF ) also published its sustainability summary report for 2023.