Antofagasta to Terminate Agreement With Aston Bay

Aston Bay Holdings (TSXV:BAY) has received notice from Antofagasta that the company intends to formally terminate the Earn-in agreement for Aston Bay’s Storm Project.

As quoted in the press release:

The execution of the Earn-In Agreement was announced by the Company on December 1, 2014. Formal termination of the agreement will occur immediately after the next meeting of Antofagasta’s Business Development Committee. Antofagasta cited budget cuts due to copper market uncertainty as the reason for the termination of the agreement.

Aston Bay president and CEO, Benjamin Cox, said:

Antofagasta’s decision to terminate the agreement on Storm in no way diminishes the technical merits of the project. We believe that the property has demonstrable value potential that is attractive to investors, copper explorers and copper producers alike.

Click here to read the Aston Bay Holdings (TSXV:BAY) press release