Catalyst Copper Corp. announces it has entered into a non-binding letter of intent with TeckResources Limited to modify the terms of an agreement dated April 9, 2013 for the acquisition of the La Verde project by Catalyst subject to completion of formal documentation and appropriate approvals, including TSX-Vapproval.
Minera Frisco, controlled by Mexican billionaire Carlos Slim, has been given the green light to search for gold in Mexico. In a controversial decision, Mexicos Ministry for the Environment and Natural Resources (Semarnat) approved an environmental study last week authorizing Friscos Las Espejeras mine to conduct gold exploration activities. The October 3 authorization, which does not include gold extraction, will last two years and begin this month.
Great Panther Silver Limited today announced that it has received the Environmental Impact Permit for its 100% owned San Ignacio Project in Guanajuato, Mexico. With the granting of the permit, the Company has commenced construction of a two-kilometre road to provide access to the new portal for ramp and mine development.
Excalibur Resources Ltd. is pleased to announce that it has signed a second Addendum to the September 22, 2010 Joint Venture Agreement whereby it will increase its ownership in the 49% owned subsidiary Minera Catanava S.A. de C.V. in Pinos, Zacatecas, Mexico by acquiring an 11% stake from the 51% of the common shares held by its partner Minera Apolo S.A. de C.V. for US$1,000,000 and a 2% Net Smelter Return royalty on anything produced in the Pinos District, excluding production from the existing Catanava area with the following conditions. Excalibur will make the cash payments in four installments of US$250,000 over 4 years after Catanava reaches full production of three shifts per day or after reaching production of at least 100 tpd, whichever comes first. Each of MASA and Excalibur will retain two of the four seats on the Board of Directors of Catanava and MASA will be represented with one seat of the five seats on the Board of Directors of Excalibur.
Sonoma Resources Inc. announces that it will proceed with a non-brokered Private Placement of up to 2,000,000 units of Sonoma at a price of $0.05 per unit for proceeds to the Company of up to $100,000. Each Unit consists of one common share of Sonoma and one non-transferable share purchase warrant entitling the holder to acquire one additional common share of Sonoma at a price of $0.10 per common share for a period of twelve (12) months from the date of the issuance of the purchase warrant with a forced exercise provision attached to each warrant commencing on the day following the expiry of any applicable hold period on the underlying Common Share, stating that if, for ten consecutive trading days, the closing price of the listed shares of the Company exceeds $0.40 then the exercise period of the warrants will be reduced to a period of 10 days following such trading days.
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