London South East were joined by Brad George, CEO at Orosur Mining (OMI), the London-listed South American metals explorer with projects in Colombia, Brazil and Argentina.
• In March we heard that Phase 2 of Anza was well underway, with $2M received from Newmont/Agnico; neverthless the process of creating a JV company would still take several months to complete.
• Then on 4th May OMI told investors that Newmont/Agnico had 'effectively placed Anza on care and maintenance.'
Brad confirmed today that despite paying $2M and continuing to set up the JV company as legally required, in direct talks with Angnico/Newmont they had been told that Anza was less of a priority.
Why? Both Newmont and Agnico have been involved M&A acquisitions and are considerably bigger than when the signed the JV, with much bigger projects a necessity. And that a new left wing Government in Colombia may make life harder for the supermajors, whilst still supporting junior miners.
On Wednesday 10.5.2023 Brad George joined us from London to add some clarity to the announcement. His language is very nuanced, so we think it is best you listen to this interview for yourself.
We are hosting an Orosur Webinar with Brad George CEO and Louis Castro, Chairman live on Monday at 6 pm. Please register here.
Orosur Mining (OMI)