Business
Mundoro Marks a Transformative 2023 and Outlook for 2024
Vancouver, British Columbia--(Newsfile Corp. - March 4, 2024) - Mundoro Capital Inc. (TSXV: MUN)...
About this update from Mundoro Capital Inc.
[{"type":"text","content":"Mundoro Marks a Transformative 2023 and Outlook for 2024Vancouver, British Columbia--(Newsfile Corp. - March 4, 2024) - Mundoro Capital Inc. (TSXV: MUN) (OTCQB: MUNMF) (www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to announce that 2023 marked a year of significant transition and advancement for the Company. Throughout the year, we successfully managed extensive field programs for four partners across ten projects in three countries and two continents. The Company's partner-funded programs amounted to substantial exploration expenditures of approximately $14 million, advancing numerous targets over multiple projects to drill-ready phase, and demonstrating our commitment to advancing this project portfolio.In Arizona, the collaborative efforts have led to the identification of several drill targets on our Dos Cabezas and Picacho projects. In Serbia, exploration included conducting extensive geophysical surveys over greenfield prospects and defining numerous new drill targets. We believe that Mundoro's strategy of value creation through disciplined grass-roots exploration, prospect generation, and ultimately, royalty generation, has been validated by a clear track record of forming partnerships and executing the work programs to advance the projects.Teo Dechev, CEO and President commented, \"As we move into 2024, Mundoro is poised to embrace new opportunities as our portfolio of exploration properties undergoes transformation. Vale Base Metals (\"VBM\") has notified Mundoro that it intends to terminate the agreements in 2024 and as a result, Mundoro will regain 100% control of the two projects in the Timok region of Serbia and the two projects in the Laramide belt in Arizona. With 100% ownership of the projects, Mundoro will be commencing discussions with third parties for additional partnerships. The company will provide quarterly updates on the status of these discussions. \"This transition affords new interested parties the opportunity of partnering with Mundoro to enter districts known for a century of mining heritage, substantial copper production, and a wealth of porphyry and high sulphidation mineral deposits. Mundoro remains committed to leveraging our expertise and strategic partnerships to continue delivering value to our shareholders and advancing exploration towards discovery.\"2023 Portfolio Highli...