Report: District Metals – Like a kid in a candy shop in Sweden

District Metals Corp. (DMX.V) came out of the gate about 18 months ago but has recently been focusing on the acquisition and interpretation of the Tomtebo project in Sweden, where it’s earning a 100% ownership from EMX Royalty Corp. (EMX.V).

District also recently announced it sold an 80% stake in the Bakar property to Sherpa II Holdings, a shell which needed a qualifying transaction to come out of the gate. District Metals will receive C$50,000 in cash and 1 million shares from Sherpa which also committed to spend C$200,000 in exploration expenditures. As you may remember, District paid C$50,000 in cash and issued 1.25M shares to the underlying vendor, so DMX is basically recouping its investment with the sale of 80% to Sherpa and perhaps can make a few extra shekels should the remaining 20% end up being worth something.

CLICK HERE to read the full report from caesarsreport.com on District Metals (DMX.V)