Vela Minerals Options Mavis Bank, Jamaica Gold Copper Project
Vela Minerals Ltd. (VLA.V) has entered into an option agreement to acquire Mavis Bank, a 63 square kilometer special exclusive prospecting license in Jamaica.
The agreement allows the company to acquire a 90% interest in the Mavis Bank under the following conditions: cash payments of (i) $40,000 upon signing, (ii) $60,000 upon the first anniversary, (iii) $100,000 upon the second anniversary, along with a work commitment of $500,000 to be completed before the second anniversary date.
VLA is unchanged at $0.145.
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