August 2023
Larsen further noted: “Upon completion of this internal process within the Bolivian mining regulator AJAM, Eloro’s Bolivian subsidiary, Minera Tupiza S.R.L. will consolidate its one hundred percent (100%) participation in the Additional Properties, pursuant to its option agreement with the vendor. In connection with this transaction, 200,000 common shares of Eloro will be issued to acquire the capital quotas of the Additional Properties Title Holder (see Eloro press release dated November 22, 2022).
November 2022
The Company’s Bolivian subsidiary, Minera Tupiza S.R.L., entered into the Agreement with the current title holder, subject to finalizing the granting of the mining rights process (the “Title Holder”), for the Mina Casiterita and Mina Hoyada properties. Under the Agreement, the Capital Quotas of the Title Holder will be transferred to Eloro in exchange for a total consideration of 200,000 common shares of Eloro. The transaction is subject to the completion of the terms outlined in the Agreement, together with the receipt of all required regulatory approvals in connection with the issuance of the Eloro common shares..............
........Geological mapping and sampling is in progress on these new properties as well as magnetic surveys. Immediately fowing the completion of its acquisition, we plan to drill test major targets on the Mina Casiterita property.”
IMO
They were not planning even to drill Casiterita, before completion of its full acquisition. Means before to be granted mining rights.
Although they start drilling before, I doubt that we will see the real capacity of Casiterita till the property is 100% permitted.
Smart Hidalgos they are.