Junior corporate roundup: Panoro, Neo Lithium, Continental

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Monday, January 8, 2018

Vancouver-based Panoro Minerals sold its Kusiorcco copper project in southern Peru to Hudbay Minerals.

Panoro received US$3mn upfront for the asset and will receive additional payments totaling US$2mn upon completion of certain milestones by Hudbay. Panoro retains a 2% net smelter return royalty on production at Kusiorcco.

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Proceeds will be used to advance Panoro's Cotabambas and Antilla primary copper projects in Peru.

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Toronto's Neo Lithium, which has the 3Q lithium project in Argentina's Catamarca province, appointed Gabriel Pindar as COO as well as three new engineers.

Neo also announced results from a second drill hole at 3Q, which yielded 238m with an average grade of 784mg/l lithium.

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Continental Gold announced positive reconciliation results from 600t of trial mining test ore processed through its Yaraguá mill at its Buriticá gold project in Colombia.

Final results were significantly better than the current mineral resource block model estimate on grade, tons and ounces, the Toronto-based company said.