Business
Radius Options Guatemalan Geothermal Concessions
Radius Options Guatemalan Geothermal Concessions
About this update from Radius Gold Inc.
[{"type":"text","content":"\n\n\n\n Nov. 4, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Nov. 4 /CNW/ - Radius Gold Inc. (TSX-V: RDU):  Ralph Rushton,\n Director of Radius Gold, is pleased to announce that the Company has\n optioned its portfolio of geothermal concessions in Guatemala to a\n private geothermal power company, Molten Power Corp. ("Molten"). Molten\n will be the operator of the geothermal exploration project.\n\n\nSimon Ridgway, the President of Radius, commented: "We're delighted to\n be working with Molten on the exploration and development of our\n geothermal concessions. With the tremendous interest in carbon-neutral,\n renewable energy, I'm pleased that our exploration programs may be able\n to contribute to the development of clean energy sources in Central\n America."\n\n\nUnder the terms of the option, and subject to satisfactory technical and\n legal due diligence by Molten, Molten shall have the exclusive right to\n earn a 100% interest in the concessions from Radius by issuing 2\n million shares in staged tranches according to the following schedule:\n\n\n\n\n\n\n\nOn signing the definitive option agreement: \n\n\n400,000 shares\n\n\n\n\nOn 1st anniversary of signing the definitive agreement date: \n\n\n500,000 shares\n\n\n\n\nOn 2nd anniversary of signing the definitive agreement date: \n\n\n500,000 shares\n\n\n\n\nOn 3rd anniversary of signing the definitive agreement date: \n\n\n600,000 shares\n\n\n\n\n \n\n\nCumu...