Los Cerros takes full ownership of Colombian prospect
PERTH (miningweekly.com) – ASX-listed Los Cerros has formalised an agreement with the Colombian arm of gold miner AngloGold Ashanti to gain full ownership of the Chuscal joint venture.
The deal was initially agreed upon in April, and would see AngloGold become a 4.3% shareholder of Los Cerros, with the right to increase this stake to 10%, while Los Cerros took 100% of the Cuscal project.
Los Cerros would now issue more than 10.47-million shares to AngloGold and 15.4-million options, at an exercise price of 16c each, and an expiration date of 12 months from the date of issue.
The joint venture agreement between the two companies will be terminated.
“We look forward to AngloGold Ashanti becoming a shareholder They have proved to be supportive joint venture partners at Chuscal and we look forward to their ongoing support as a shareholder,” said Los Cerros MD Jason Stirbinskis.
“In addition to their vast knowledge of Colombian geology and gold discoveries, they also have direct experience in the Quinchia region and some of our highest priority targets in the extensive Andes portfolio were also once AngloGold Ashanti assets.”
Los Cerro’s Quinchia portfolio covers 10 542 ha consisting of granted titles and applications and includes deposits and targets such as Miraflores, Chuscal, Dosquebradas and Tesorito.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.
VISIT SHOWROOM
For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
