Post by
KenGPS on Jul 02, 2024 6:30am
Chakana NR
Chakana has an option agreement with Condor Resources on three claims (1,054 hectares) at the northern end of the expanded Soledad project, representing approximately 25% of the mineral rights Chakana controls. Under the terms of the agreement, Chakana was scheduled to complete a US$1,000,000 payment to Condor on June 23, 2024, to maintain its option, subject to a 90-day period to resolve any late payments. This payment has not yet been made and the companies are in active discussions on the matter.
Comment by
Crashcomingsoon on Jul 02, 2024 7:44pm
Chakana is notorious for delaying ad renegotiating. Condor generally extends the payment dealine and requires Chakana to increase the payment due to the delay. I suspect, at some point Chakana may just not make the payment.