Los Andes Copper agrees to $20 million royalty agreement with Ecora Resources

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[{"type":"text","content":"Los Andes Copper agrees to $20 million royalty agreement with Ecora Resources\n \n \n (NewsDirect)\n \n \n \n \n Los Andes Copper Interim CEO Santiago\nMontt and Chairman Eduardo Covarrubias joined Steve Darling from\nProactive to share significant news about the company's royalty\nagreement with Ecora Resources.\n \n \n Under the agreement, Ecora will pay Los Andes Copper a total\ncash consideration of $20 million dollars in exchange for a royalty\ncalculated over the sale of all minerals produced from the Vizcachitas\nProject in Chile.\n \n \n The Vizcachitas\nProject is one of the largest copper deposits in the Americas not\ncontrolled by major mining companies. As part of the agreement, Ecora\nwill receive royalty payments of 0.25% Net Smelter Royalty on minerals\nsold from open pit operations and 0.125% NSR on minerals sold from\nunderground operations.\n \n \n Montt\nemphasized that this substantial investment from Ecora is a testament\nto the immense potential of the Vizcachitas Project and serves as\nvalidation of the extensive technical work undertaken by the Los Andes\nCopper team over many years. The influx of funds from this agreement\nwill now accelerate the implementation of various optimizations for\nthe project.\n \n \n Furthermore, Montt\nshared with Proactive that Los Andes Copper will soon resume drilling\nactivities. The company received authorization from the Second\nEnvironmental Court in Chile after demonstrating compliance with all\nthe conditions imposed on July 20, 2022.\n \n \n Covarrubias also said\nthis royalty agreement and the upcoming drilling activities represent\nsignificant steps forward for Los Andes Copper as it advances the\ndevelopment of the Vizcachitas Project and explores the vast potential\nof this valuable copper deposit in Chile.\n \n \n \n Contact\nDetails\n \n \n \n Proactive Investors\n \n \n +1 347-449-0879\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All rights reserved.\n \n \n","length":2435,"tagName":"div"}]

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