Canasil Resources Completes Expenditure Requirement for Stake in Pan American Silver's Escobar Claims

By Midnight Trader,  August 08, 2012, 03:26:41 PM EDT

Canasil Resources Inc. (CLZ.V) has completed the $1 million expenditure requirement to earn 51% interest in Pan American Silver's Escobar claims at the Sandra-Escobar silver-gold project in Durango State, Mexico.

Following the exercise of the earn-in by Canasil, Pan American has advised Canasil that it will not exercise its back-in right to form a 51% Pan American, 49% Canasil joint venture covering the project, and has elected to sell its remaining 49% interest in the Escobar claims to Canasil as provided for in the agreement.

CLZ shares were up 1.5 cents to $0.115.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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