Panoro Minerals (TSE:PML) has released an update.
Panoro Minerals Ltd. has announced the receipt of CA $2.7M from Calisto Cobre Resources Corp. as the second payment for the divestment of its subsidiary, Antilla Copper S.A. The payment, made ahead of schedule, will fund updates to the Preliminary Economic Assessment for the Cotabambas Project, which aims to enhance the project’s development and financing prospects. Panoro retains a 10% interest in Antilla, along with a 2% Net Smelter Return royalty, which may increase if their stake dilutes below 5%.
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