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Vena’s Partner Trafigura Investing US$2.5 Million to Advance Azulcocha Zinc Mine to Production
Jul. 28, 2010 10:54AM PST
Base Metals Investing Vena Resources Inc. (TSE:VEM)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF), a Company with strong partnerships with four of the world’s largest mining companies, is pleased to announce that it has enhanced its agreement with Trafigura Beheer B.V., a privately-held international commodity trader, to invest immediately in the Azulcocha project with the goal to increase the known resources/reserves and complete all the engineering required for an up to 2,000 tpd operation including a new tailings deposit.
Vena Resources Inc. (TSX:VEM)(LIMA:VEM)(FRANKFURT:V1R)(OTCBB:VNARF), a Company with strong partnerships with four of the world’s largest mining companies, is pleased to announce that it has enhanced its agreement with Trafigura Beheer B.V., a privately-held international commodity trader, to invest immediately in the Azulcocha project with the goal to increase the known resources/reserves and complete all the engineering required for an up to 2,000 tpd operation including a new tailings deposit.
The press release is quoted as saying:
To advance the core agreement already in place, Trafigura will lend to Azulcocha Mining SA, a wholly-owned subsidiary of Vena Resources, US$2.5 million in the form of a 9% convertible debenture with a two year term exercisable into common shares of Azulcocha Mining SA for a 15% ownership of the Azulcocha Regional Project.
Click here to access the entire press release