Malbex Resources Inc. (TSX: V.MBG, Stock Forum) said it has struck a deal to acquire control of the Los Guandules Verdes exploration concession in the Dominican Republic.
The company said in a press release the property is located south of the Nieta Concession, which is being explored by Unigold Inc. (TSX: V.UGD, Stock Forum) and approximately 15 kilometres northwest of GoldQuest Corp.’s (TSX: V.GQC, Stock Forum) La Escandalosa project.
The Los Guandules Verdes concession is located in the Central Cordillera of the Dominican Republic. The western boundary follows the international border with Haiti while the eastern boundary is approximately 300 metres from the Nalga de Maco National Park.
Down 10% Friday to 9 cents, Malbex has a market cap of $12 million, based on 132.3 million shares outstanding. The 52-week range is 44.5 cents and 5.5 cents.