- Mundoro Capital (MUN) has announced a strategic alliance with Vale Exploration Canada Inc.
- The new alliance will focus on generating new projects with high potential to host porphyry copper deposits in Arizona and New Mexico
- The alliance has an initial term of two years
- Mundoro and Vale have also now entered into a definitive option agreement for a copper property in Arizona
- Mundoro is a Canadian listed royalty generator company with a portfolio of projects focused on base and precious metals
- Shares in Mundoro Capital Inc. (MUN) are up 13.89 per cent, trading at $0.205 per share
Mundoro Capital (MUN) has announced a strategic alliance with Vale Exploration Canada Inc. for copper exploration in the southwestern United States.
The new alliance will focus on generating new projects with high potential to host porphyry copper deposits in Arizona and New Mexico.
“Since our business has focused on the generative approach of directly staking and partnering with mining companies,” said Mundoro CEO and president Teo Dechev, “Mundoro has completed six deals with companies such as JOGMEC, Vale, Freeport, and First Quantum, on various properties in our portfolio in the Western Tethyan in Eastern Europe.”
“This strategic expansion to broaden our exploration to an additional important copper district,” added Ms. Dechev, “provides further opportunity for our mining partners and shareholders seeking exposure to copper assets.”
The alliance has an initial term of two years, during which Vale will fund the work performed by Mundoro, who will operate exploration activities at the new properties.
All generative exploration activities will be guided by a technical committee consisting of two members from each company.
Vale will have the option to acquire 100 per cent of each Mundoro project through additional funding.
In pursuit of the generative alliance, Mundoro and Vale have now entered into a definitive option agreement for a copper property in Arizona.
“We look forward to the next two years of generative exploration in the southwest USA with Vale,” said Ms. Dechev.
Mundoro is a Canadian-listed royalty generator company with a portfolio of projects focused on base and precious metals.
Shares in Mundoro Capital Inc. (MUN) are up 13.89 per cent, trading at $0.205 per share as of 12:41 pm EST.
