Junior corporate rondup: Lithium X, Belo Sun, Duran, Dynacor, Valor

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Thursday, February 23, 2017

Vancouver's Lithium X received permits for the construction of an initial ponding facility as part of the Salta Exploraciones joint venture in Argentina.

The JV owns the Sal de los Angeles project.

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The ponding facility is designed for an output of about 2,500t/y of lithium carbonate equivalent, Lithium X said in a statement.

The company added, however, Sal de los Angeles has not been the subject of a feasibility study and that there is no guarantee it will successfully produce a commercial product on a profitable basis.

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A judge in Altamira, Brazil, issued a 180-day injunction ordering Toronto's Belo Sun Mining to halt some work associated with a construction license granted for its Volta Grande gold project.

The purpose of the injunction is to give families living near the project time to relocate, a press release said.

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Peru-focused Duran Ventures entered into a letter of intent to sell its Don Pancho silver-lead-zinc project in Lima to Tartisan Resouces for cash consideration of Cdn$50,000 (US$38,155) and 500,000 shares, a statement said.

Duran will receive an additional 500,000 shares of Tartisan as certain project milestones are achieved and will retain a 2% NSR royalty in the project, of which 1% can be purchased by Tartisan for Cdn$500,000. The agreement is expected to be closed by the end of March.

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Montreal's Dynacor Gold said in a release that permits for its Veta Dorada plant in Chala, Peru, have been added to Peru's national registry.

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The shares of Australia's Valor Resources, formerly known as Carajas Copper, will resume trading on Monday on the Australian Securities Exchange following a trading halt request pending the release of a capital raising announcement, a securities filing said.

Valor this month said it had entered into an agreement to purchase 100% of the Berenguela copper-silver-manganese project in Peru from Silver Standard Resources.