(Alliance News) - Erris Resources PLC said Monday Canadian firm Centerra Gold Inc has terminated its strategic alliance with Erris after almost four years, "a typical duration for such joint ventures".
The mineral exploration firm said it remains focused on identifying consulting and exploration partners to advance prospective mining projects.
Erris currently has a portfolio of 100%- owned gold projects in Sweden, Finland and Norway, which it will seek to advance with new partners.
Anton du Plessis, chief executive, said: "Erris Resources is grateful for the consulting and exploration partnership with Centerra Gold over the past four years, which from our experience is a typical duration for such joint ventures."
"While we are disappointing it has ended, we will continue to pursue this type of partnership with other mining partners having demonstrated our consulting expertise in delivering cost-effective exploration," du Plessis said.
Erris Resources shares closed 4% lower in London at 4.61 pence each on Monday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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