- Cartier Iron Corporation (CFE) has signed a letter of intent to acquire a 100 per cent interest in the Chorrillos Silver Project in Bolivia for US$4.5 million
- Cartier Iron’s majority-owned Bolivian subsidiary, Minera Cartier Bolivia S.R.L., was granted the right to acquire the interest
- It will make the payment in six installments over roughly five years
- The project includes two properties for which Cartier Iron has already planned a program for
- Cartier Iron Corporation (CFE) is up 13.33 per cent, trading at $0.08 per share as of 2:01 p.m. ET
Cartier Iron Corporation (CFE) has signed a letter of intent agreement to acquire a 100 per cent interest in the Chorrillos Silver Project in Bolivia for US$4.5 million.
Cartier Iron’s majority-owned Bolivian subsidiary, Minera Cartier Bolivia S.R.L., was granted the right to acquire the interest in the project and will make the payment over six installments.
The first payment of US$80,000 will be made six months after signing a definitive agreement.
The second payment of US$220,000 will be one year after the agreement signing date, and the third payment of US$500,000 will be two years after the signing.
The final three payments will also be subsequentially paid three, four, and five years after the definitive agreement signing date.
The project includes two separate properties known as the Gonalbert Mining and the Felicidad Mining areas.
Cartier Iron shared it planned a program of geological mapping, geophysical surveys, and sampling of historic workings and trenches, followed by diamond drilling on both properties.
Cartier Iron Corporation (CFE) is up 13.33 per cent, trading at $0.08 per share as of 2:01 p.m. ET.