Toronto-based Braeval Mining's (TSX: BVL) subsidiary Braeval Mexico has entered into a memorándum of understanding with Prospero Silver's subsidiary Minera Fumarola in relation to the Plomosa lot mining concession, part of the El Petate project in Mexico's Hidalgo state.
Both companies have agreed to carry out a definitive agreement whereby Braeval will have the exclusive exploration rights at El Petate and an option to incorporate a JV company following the completion of a 48-month earn in through cash payments totaling US$1.42mn, and 2mn Braeval common shares.
Upon signing the agreement, Braeval has made a minimum commitment of US$50,000 and 2.5km of drilling, a press release reads...
Award-winning and trusted the world over, Business News Americas is the only English and Spanish business intelligence resource for project , news , analysis and business contacts focused on and produced in Latin America. This company profile is one of thousands of companies included in the BNamericas directory of active and up-and-coming companies, including Santa Fe Metals , Oban Mining Corporation and Condor Resources . Contact us today! Phone:+56 (2) 2941-0300