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Tethyan Resources Announces Letter of Intent to Acquire Taor and Consolidate the Raška Mining District in Serbia
Feb. 14, 2018 09:00AM PST
Base Metals Investing Tethyan Resources plc (TSXV:TETH) (“Tethyan” or the “Company”) is pleased to announce that it has entered into a binding letter of intent (the “LOI”) dated February 12, 2018 with Balkan Minerals Limited (“Balkan”) and its sole shareholder, Dr. Radomir Vukcevic, with respect to the proposed acquisition by Tethyan (the “Transaction”) of all the shares of Balkan’s wholly-owned Serbian subsidiary …
Tethyan Resources plc (TSXV:TETH) (“Tethyan” or the “Company”) is pleased to announce that it has entered into a binding letter of intent (the “LOI”) dated February 12, 2018 with Balkan Minerals Limited (“Balkan”) and its sole shareholder, Dr. Radomir Vukcevic, with respect to the proposed acquisition by Tethyan (the “Transaction”) of all the shares of Balkan’s wholly-owned Serbian subsidiary Taor d.o.o, (“Taor”).
As quoted in the press release:
Taor holds two exploration licenses totalling approximately 100 square kilometres (the “Taor Licenses”) situated adjacent to Tethyan’s optioned Suva Ruda license in the historic Raška lead and zinc mining district in Southern Serbia (Figure 1). The Taor Licenses were issued in April 2016 and are valid for an initial period of three years, with the right to be renewed for an additional five years to April 2024, at which point the Mining Law of Serbia requires application for a mining permit.
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