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

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.


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.


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.


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.


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.