re: headline on investorweb
Posted by Gadget on SS
ACQUISITION OF 100% OF THE CHACARILLA COPPER PROJECT IN BOLIVIA
Sundance Resources Limited (SDL) is pleased to announce it has acquired the remaining 50% of the Chacarilla Copper Project in Bolivia that it did not already own. Sundance now owns 100% of the project without any contractual encumberances or royalties beyond the normal regulatory and governmental requirements. This acquisition will allow an exploration and development plan to be finalized. Consideration for this acquisition was US$1,025,460 in cash, which has now been paid. The arrangements for purchase of the remaining 50% were first negotiated and announced in 2004, but have subsequently been through an extended period of negotiations. Sundance has been involved in exploration in Bolivia since 1997, but has kept the project on care and maintenance since 1999 when copper prices were depressed.. Since then, sentiment and commodity prices have dramatically improved and Sundance has been negotiating during that period to consolidate the project which covers a large prospective area which hosted profitable mining operations more than 30 years ago. Details of the project follow.
SDL Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
