Gold mining company Quimbaya Gold has announced the termination of its Letter of Intent (LOI) with Denarius Metals.
Quimbaya Gold Retains Full Control of Tahami Project After Terminating Joint Venture
Quimbaya Gold Inc., a Canadian mining company, has announced that it will continue to manage its Tahami Project in the Segovia Gold District of Colombia independently, following the termination of a joint venture agreement with Denarius Metals Corp. [1][3][4]
The joint venture aimed to formalize artisanal mining operations at the Tahami Project, but Denarius Metals decided not to proceed after conducting extensive due diligence, citing unfavorable operational and social conditions as the reasons for their withdrawal. [1][2]
Quimbaya Gold remains focused on executing its fully funded 2025 exploration and development plans, which include a 4,000-meter drill campaign scheduled to commence at Tahami South soon. [3][4]
Despite the termination of the joint venture, Quimbaya Gold has not announced any alternative plans for artisanal mining formalization. [1][3]
Quimbaya Gold Inc. retains 100% ownership of the Tahami Project, including the drill-ready Tahami South. [1]
The company is managed by a team with extensive experience in the mining sector, with Alexandre P. Boivin serving as the President and CEO. [6] Sebastian Wahl is the VP Corporate Development, and can be contacted at [email protected]. [5]
The press release contains forward-looking statements regarding the company's future plans, exploration activities, and potential mineral discoveries, including at Tahami South. However, readers are cautioned not to place undue reliance on these statements as there can be no assurance that the plans, intentions, or expectations upon which they are based will occur. The actual results may vary materially from those described in the forward-looking statements. [7]
Quimbaya Gold Inc. trades on several stock exchanges: the Canadian Stock Exchange under the symbol CSE: QIM, the OTCQB under the symbol QIMGF, the Frankfurt Stock Exchange under the symbol FSE: K05, and the OTC Markets under the symbol OTCQB: QIMGF. The company also has various online platforms for follow-up: Twitter (@quimbayagoldinc), LinkedIn (@quimbayagold), Instagram (@quimbayagoldinc), Facebook (@quimbayagoldinc). [5]
*Note: This article is based on information provided in a press release from Newsfile via QuoteMedia.
[1] https://www.newsfilecorp.com/release/134664 [2] https://www.denariusmetals.com/news/quimbaya-gold-inc-terminates-joint-venture-agreement-with-denarius-metals-corp [3] https://www.globenewswire.com/news-release/2021/08/11/2290987/0/en/Quimbaya-Gold-Inc-Provides-Update-on-Tahami-Project-in-Colombia.html [4] https://www.mining.com/quimbaya-gold-terminates-joint-venture-agreement-with-denarius-metals-corp/ [5] https://www.quimbayagold.com/contact [6] https://www.quimbayagold.com/about [7] https://www.quimbayagold.com/investors/disclaimer
Quimbaya Gold Inc., with its strong finance and business acumen, will continue managing the Tahami Project independently, despite the termination of the joint venture. Concurrently, they remain focused on the mining sector, especially the execution of their 2025 exploration and development plans in the Segovia Gold District of Colombia.
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