MCS McChip Resources Inc

McChip Resources Inc. (TSX VENTURE:MCS) ("McChip or the "company") is pleased to
announce the commencement of actual royalties earned from potash production
during November 2011.


Under the terms of the lease agreement, effective September 17, 2008, with
Potash Corporation of Saskatchewan Inc. (POT-T) ("PCS"), PCS has the right to
mine potash from lands leased from the Company in the Rocanville area of
Saskatchewan. 


To date the Company has received $400,000 in advance royalties. During the month
of November actual royalties were $18,351.78, earned at a rate equivalent to the
royalty rate payable to the Crown calculated on Potash Ore from time to time
pursuant to the provision of the regulations provided under The Crown Minerals
Act of the Province of Saskatchewan. The advance royalty will be recouped by PCS
from actual royalties due McChip. 


Richard McCloskey, President and CEO of the company said that based on
production and price expectations the Company anticipates the royalty stream to
have a significant impact on income for future periods.


Statements in this press release other than purely historical information,
including statements relating to the Company's future plans and objectives or
expected results, constitute forward looking statements. Forward looking
statements are based on numerous assumptions and are subject to all of the risks
and uncertainties inherent in the business of the Company, including risks
inherent in resource development. As a result, actual results may vary
materially from those described in the forward-looking statement.

McChip Resources (TSXV:MCS)
Historical Stock Chart
From Apr 2024 to May 2024

McChip Resources (TSXV:MCS)
Historical Stock Chart
From May 2023 to May 2024