Business
Mundoro Provides Update on Exploration Activity, Corporate Activity and COVID-19 Response
Vancouver, British Columbia--(Newsfile Corp. - April 29, 2020) - Mundoro Capital Inc. (TSXV...
About this update from Mundoro Capital Inc.
[{"type":"text","content":"Mundoro Provides Update on Exploration Activity, Corporate Activity and COVID-19 ResponseVancouver, British Columbia--(Newsfile Corp. - April 29, 2020) - Mundoro Capital Inc. (TSXV: MUN) (www.mundoro.com) (\"Mundoro\" or the \"Company\"), announces filing audited consolidated financial statements and Management's Discussion and Analysis on SEDAR at www.sedar.com and posting on the Company's website at www.mundoro.com. All amounts are in Canadian dollars unless otherwise stated. Along with the filing of financial statements, Mundoro provides an update on our exploration activity and corporate activity in response to the COVID-19 pandemic which has created evolving guidelines and rules in the jurisdictions where we operate. COVID-19 ResponseMundoro has been closely monitoring the COVID-19 situation where we operate and have taken precautionary measures at the Company's sites and offices to help protect the safety of our workforce and local communities. The Company is following the public health directives for COVID-19 safety outlined by the local governments at each of its operations. Due to COVID-19 government mandated restrictions affecting field activity, Mundoro's exploration team is working remotely with project data for interpretation and targeting as well as converting our project workspaces to 3D environments for enhanced visualization of targets and further drill planning.Corporate Initiatives to Manage Costs As of March 30, 2020, Mundoro had working capital of C$3.1 million with no debt and 80.6 mln shares outstanding. Mundoro remains in a strong overall financial position as a result of its treasury and the reduction in expenditures in 2020. Mundoro's cash position exceeds the Company's exploration work commitments for calendar 2020 as well as general corporate expenditures.Mundoro's Objectives for 2020Commence exploration on the Vale-Mundoro JV Projects in the second half of 2020.Add partner(s) for Mundoro's projects available for optioning.Enter into exploration contract for the Svoboda project with Bulgarian government.Outlook for Projects Available for Option or Joint VentureMundoro continues to have discussions with interested third parties seeking to option Mundoro's available projects, confirming the continued interest in exploring in Timok, Serbia as well as Bulgaria. Additionally, the Company has seven areas un...