ADVENTUS MINING and SALAZAR RESOURCES entered a joint venture to develop the CURIPAMBA copper-gold project – QNT Press Release


Toronto, January 4, 2022 / CNW /- Arrival Mining Company (“adventure”) (Toronto Stock Exchange:ADZN) (Over-the-counter transactions:ADVZF) And Salazar Resources Limited (“Salazar”) (Toronto Stock Exchange:SRL) (Collectively referred to as “participants”) is pleased to announce that the formal profit mechanism has been completed and Adventus is now the 75% owner of the Curipamba copper-gold project. Ecuador (“Curibamba”). The participating parties have signed a shareholder agreement that will govern their respective rights and obligations as shareholders of the joint venture company that controls and owns the Curipamba project.

Curipamba ownership highlights

  • Adventus acquired 75% of the Curipamba project, was responsible for the initial development capital cost, and obtained 95% of the future net cash flow from the operations of Curipamba holding company Curimining SA (“Curimining”) in Ecuador until all surplus option expenditures (“Income Expenses”) ”) and the capital cost of the project funded by Adventus has been repaid 1
  • Total income and expenditure US$44.1 million Adventus has spent the most on Curipamba September 30, 2021
  • Adventus continues to advance detailed discussions with potential financing partners to build Curipamba’s capital.The start of the detailed project, the recruitment of key construction personnel and the

The full story can be found on Benzinga.com



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