CANGOLD LIMITED reports that it has received final approval from the TSX Venture Exchange on the previously announced transaction for the option to acquire up to a 100% interest in the mining rights to the Guadalupe de los Reyes Gold-Silver Project in Mexico and the non-brokered private placement financing.
Mexus Gold US announced today that it has signed an agreement with North Pacific Gold Inc. for cable salvage, surveying, and mapping of off shore cable in the State of Alaska. North Pacific has a 100′ vessel equipped with heavy lifting capabilities and support equipment that is perfect for surveying, mapping, and sampling operations in the offshore waters of Alaska. Mexus will contribute support, knowledge, and stored cable equipment to North Pacific. In exchange, Mexus will receive 11% of any cable that might be recovered by North Pacific from 8/4/2014 thru 8/4/2020. North Pacific is headed up by Paul Thompson Jr. who has worked tirelessly to provide the vessel and other logistical support to make this operation possible. This agreement allows Mexus to benefit from the off shore cable salvage program yet stay focused on its Julio/Santa Elena Mexico mining operation. Paul Thompson Sr, CEO of Mexus Gold US, stated, “I want our shareholders to understand that this vessel was funded by outside parties and doesn’t affect our plans in Mexico.”
James R. Moffett, Chairman of the Board; Richard C. Adkerson, Vice Chairman, and FCX President and Chief Executive Officer; and James C. Flores, Vice Chairman, and FM O&G President and Chief Executive Officer, said, “Our second-quarter results reflect continued strong operating performance in our North America, South America and Africa mining operations and from our oil and gas operations, partly offset by the effects of reduced output from Indonesia. We are encouraged by our discussions with the Indonesian government toward reaching a near-term agreement to enable resumption of PT Freeport Indonesia’s copper concentrate exports. During the quarter, we completed a $3.1 billion sale of our Eagle Ford shale assets and acquired additional interests in our Deepwater Gulf of Mexico focus area. We also commenced copper production from our expanded Morenci operation and achieved important progress in our mining and oil and gas development projects to provide future growth in production, cash flows and attractive investment returns. We remain focused on our opportunities to increase value for shareholders through the development of our large resource base, effective management of our operations, prudent capital and balance sheet management, and providing attractive cash returns to shareholders.”
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