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Orosur Mining Inc - South American gold exploration and development company - Joint venture partner Minera Monte Aguila SAS exercises its right to assume ownership of the Anza project in Colombia. Project now moves into fourth year of phase 1, with a further USD4 million to be spent under an exploration agreement. The change in operatorship is not expected to result in major changes to the project, Orosur states.
"It is with pleasure that we note the decision by Monte Aguila to assume operational control of the Anza project and to move into the fourth year of phase 1, during which time a further minimum of USD4 million is required to be spent," says Orosur Chief Executive Brad George.
"While little may change on the ground, the decision by our partners to step in and operate the project is testament to the scale of its exploration potential."
Current stock price: 20.88 pence, up 4.4% Tuesday
Year-to-date change: down 20%
By Will Paige; willpaige@alliancenews.com
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