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Colombian Mines Grants Purchase Option for Anori Concession in Colombia
Oct. 17, 2016 10:45AM PST
Gold Investing
VANCOUVER, BC–(Marketwired – October 17, 2016) – Colombian Mines Corporation (TSXV:CMJ) is pleased to announce it has granted an option to purchase (the “Agreement”) the Company’s Anori project to a private Colombian party (the “Buyer”) for $820,000 USD.
VANCOUVER, BC–(Marketwired – October 17, 2016) – Colombian Mines Corporation (TSXV:CMJ) is pleased to announce it has granted an option to purchase (the “Agreement”) the Company’s Anori project to a private Colombian party (the “Buyer”) for $820,000 USD.
Under the terms of the Agreement, the Buyer may purchase a 100% interest in the Anori Concession Contract subject to a permanent one and one half percent (1.5%) Net Smelter Returns (“NSR”) royalty on production from the Anori Concession. The Buyer assumes all responsibility for maintaining the mineral title and fulfilling all obligations and requirements related thereto. The Anori Concession surrounds the Buyer’s Mina Solferino, a high grade, fully permitted, underground mine and 100 tonne per day milling operation, on three sides, the fourth side being a large hydroelectric reservoir that is not open to mineral entry under Colombian Law.
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