Mindoro completes deal with Panoro
April 14th, 2008
Filed under: Mineral - Copper, Mineral - Gold, Operator - Mindoro Resources Ltd
From: inquirer.net
By Amy R. Remo
Philippine Daily Inquirer
MANILA, Philippines–Canadian mining firm Mindoro Resources Ltd. said it had completed the purchase of Panoro Minerals Ltd.’s 40-percent interest in a package of assets in the Surigao Gold district, for $500,000.
In a statement, Mindoro Resources said it had also issued 500,000 Mindoro common shares to Panoro as part of the purchase.
“This payment is in addition to the $750,000 cash paid to Panoro and the 500,000 Mindoro common shares issued on April 10, 2007,” the firm said.
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