Blue Moon Metals has entered into a definitive agreement to acquire more than 2,100 acres of land and associated water rights near its Springer mine in Nevada for $8 million.
The consideration consists of $3.5 million in cash and $4.5 million in Blue Moon common shares.
The property is located in Pershing County between Interstate 80 and the Union Pacific railroad and holds more than 1,500 acre-feet annually of water rights in the Imlay basin.
Permitted consumptive use exceeds 1,300 acre-feet annually, while the permits provide for a maximum pumping rate exceeding 4,300 gallons per minute. The site also includes a 60 KVA power line.
Blue Moon said the acquisition will more than double Springer’s existing water rights and could support the development of Springer as a hub-and-spoke processing operation. The property could also eventually serve as a logistics hub because of its highway and rail access.
Under the agreement, Blue Moon paid $3.5 million in cash upon signing, including a $100,000 non-refundable deposit. The remaining $4.5 million will be issued in Blue Moon shares at closing based on the preceding 10-day VWAP.
Closing remains subject to TSX Venture Exchange approval and completion of the water-rights transfer to Blue Moon. Completion is expected in early 2027.
KEY QUOTE:
“This acquisition more than doubles Springer’s existing water rights and ensures that Springer retains its flexibility to grow into the future as a hub-and-spoke processing complex. The land package can also act as a strategic logistics hub, with access to highway I-80 and adjoining the Union Pacific rail line.”
Christian Kargl-Simard, CEO of Blue Moon Metals
