Canadian miner Keymark Resources Inc. has entered into a mining lease agreement through its wholly-owned Alabama subsidiary, Alabama Graphite Company Inc., to explore for graphite in a 70km² area in Coosa County, Alabama, US.
Alabama Graphite has also acquired an option of first refusal to lease the mineral rights to an adjacent area comprising 112km².
Under the terms of the agreement, Alabama Graphite has acquired the lease for successive renewable five-year terms - not to exceed 70 years - for an initial cash payment of $30,000 and annual advance royalty payments of $10,000.
Alabama Graphite is...