AQM copper (50% owner of the Zafranal copper project in Peru) has entered into a deal with Mitsubishi by which it has sold a 40% interest (20% of the project) for $22.6M which will help fund its share of prefeasibility and feasibility studies for the project.
http://www.4-traders.com/AQM-COPPER-INC-8023718/news/AQM-Copper-Inc-AQM-Copper-Announces-Mitsubishi-Materials-Investment-in-Zafranal-17064305/
Firstly this values the project (similar to Los Calatos) at $110M and secondly this puts the total costs of prefeasibility and feasibility studies at $75M
Shares in AQM jumpedm115% on the news.
I jumped back on MNC on the news as it provides evidence of deals still possible and of potential share price appreciation. Maybe I should have waited a bit longer.
Alejandro
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DYOR, this is not investment advice
BDR, HCH, PEM, MNC
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