Columbus Copper Closes Bursa Option Agreement with First Quantum, Receives $1.5 M Payment

Columbus Copper Corporation (CCU.V)has closed its option agreement with First Quantum Minerals Ltd. (FM.TO), under which FM has been granted an option to earn up to a 70% interest in Columbus Copper's Bursa licenses, which host the Demirtepe skarn and Karapinar porphyry projects in Western Turkey. The Agreement formalizes the terms of the binding letter agreement entered into by Columbus Copper and FQML.

Columbus Copper has now received from FM the initial cash payment under the agreement of C$1.5 million.

Shares are up half a cent to 6.5 cents late morning.

First Quantum is down 14 cents to $19.27.

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

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