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Coro Mining Corp. (TSX:COP) has signed an agreement allowing Aterra Investments Ltd. and Solway Industries Ltd. to acquire an interest in the San Jorge project. The project is located in Argentina.
Coro Mining Corp. (TSX:COP) has signed an agreement allowing Aterra Investments Ltd. and Solway Industries Ltd. to acquire an interest in the San Jorge project. The project is located in Argentina.
As quoted in the press release:
The Group may acquire a 70% interest in the Project, with the provision for an early buy-out of Coro’s interest subject to Coro’s retention of a 2.5% Net Smelter Return (“NSR”) on the production of all payable metals from the Project, except gold.
Coro president and CEO, Alan Stephens, said:
We are pleased to have concluded this Definitive Agreement with our partners, Solway and Aterra, who have been operating Minera San Jorge and funding the Project since we signed a Heads of Agreement with them last December. We look forward to them successfully obtaining the outstanding environmental permissions for San Jorge and developing it, which would allow our shareholders to benefit, either through our 30% ownership interest or from the proceeds of a valuable NSR.
Click here to read the Coro Mining Corp. (TSX:COP) press release
