Valor Announced Barrick To Fund Exploration At Charaque Project In Peru
Portfolio Pulse from Charles Gross
Valor Resources has entered into a binding Earn-in agreement with Barrick Gold Corporation for the Charaque Project in Peru. Barrick will have a 5-year option to acquire a 70% interest in the project for cash payments totaling $800,000 and exploration spending of $3,000,000.
June 25, 2023 | 11:28 pm
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Barrick Gold Corporation enters into a binding Earn-in agreement with Valor Resources for the Charaque Project in Peru, with the option to acquire a 70% interest for cash payments totaling $800,000 and exploration spending of $3,000,000.
The partnership with Valor Resources for the Charaque Project in Peru provides Barrick Gold with the opportunity to expand its portfolio and potentially increase its gold and copper production. The investment of $800,000 in cash payments and $3,000,000 in exploration spending demonstrates Barrick's commitment to the project and could lead to positive results in the future. This news is likely to have a positive impact on Barrick Gold's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100