"X" aka Twitter24 Oct 2024 07:02
Orosur Mining X Post
The New Anza Project
Now the Anza deal is nearing completion, it may be useful to clear up the various acronyms, who owns what and what we mean by "Project", as there are some changes.
Previously, the Anza Project was the group of licences and applications on the left side below - it was a JV between Orosur's local subsidiary, Minera Anza (MA) and the local subsidiary of Newmont and Agnico, Minera Monte Aguila (MMA).
Orosur is buying MMA, and so MMA and MA will be both owned by Orosur and stand side by side. The JV then has no meaning as we in effect have a JV with ourselves.
The new "Anza Project" will then comprise three components - right hand side image:
1. The original JV leases and applications
2. New applications that had been previously made by MA, but never folded into the JV as the JV did not require this.
3. New applications made by MMA that also were never folded into the JV for the same reason.
MMA will continue to exist to hold its applications, as applications cannot be transferred to a new owner until they are granted, but it will largely be passive. MA will be the operating company as it holds the granted titles that form the core of the Project.
This of course may change in future as Orosur is now free to do new JV deals on all or part of the Project, but any changes to nomenclature will be addressed at that time.
https://x.com/OrosurM/status/1849275506069549285?t=FFKBC1xM8F3kTZdHVyJMOg&s=19