Coro Provides Update on Sale of Chacay; Sale Price Negotiated Down

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Coro Mining Corp. (COP.TO) today provided an update on the sale of its Chacay project to Compania Minera Relincho SA, a subsidiary of Teck Resources Limited for a total price of US$2.5 million plus a 1.5% net smelter return ( NSR ), as previously announced on February 19th 2013.

Teck and Coro have now agreed to amend the purchase price to $2 million plus a 1.5% NSR payable on closing of the sale and transfer of the core mining claims covering the known mineralization, plus an additional $0.5 million plus a 1.5% NSR payable on conversion of the surrounding exploration claims to mining claims. This conversion process is expected to be completed before the end of 2013.




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This article appears in: Investing , Commodities

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