Nevada Organic Phosphate Inc., a British Columbia-based company focused on organic sedimentary phosphate exploration, announced it has secured 100% ownership of its Murdock Mountain Project in northeast Nevada while eliminating certain net smelter return royalty liabilities. The company signed an agreement with Montecinos Family Trust to purchase and cancel a 2% net smelter return royalty and all related payment obligations in exchange for US$50,000 and the issuance of 1,000,000 common shares, subject to Canadian Securities Exchange approval.
This transaction provides the company with greater strategic flexibility, including the potential formation of joint ventures with arm's-length parties. The Murdock Mountain Project features an organic sedimentary raw rock phosphate bed measuring 6.6 kilometres long, with additional applications extending the potential strike of rock phosphate to over 30 kilometres. According to company information available at https://ibn.fm/NOP, this is believed to be the only known large-scale organic sedimentary phosphate project in North America.
The project's location near the main highway to Montello/Elko, Nevada, and proximity to the rail head to California provides logistical advantages for potential development and transportation. The full press release detailing the ownership acquisition can be accessed at https://ibn.fm/iVflU. The elimination of the net smelter return royalty removes future payment obligations that would have been tied to production revenue, potentially making the project more attractive to future partners or investors.
For investors and industry observers seeking specialized communications about mining developments, platforms like https://RocksAndStocks.news provide focused coverage of sector news. The strategic importance of this transaction lies in Nevada Organic Phosphate's consolidation of control over a resource that could address growing demand for phosphate in agricultural and industrial applications, particularly as concerns about sustainable sourcing increase. The company's ability to pursue joint ventures without royalty encumbrances may accelerate development timelines for a resource positioned as unique in the North American market.
