Magellan Announces Termination Of Pocone Project LOI


News: TSX Venture-listed Magellan Minerals has announced the termination of a binding letter of intent (LOI) with Ross Beaty, founder and chairman of Pan American Silver over the Pocone project in Brazil. The parties had signed the LOI to collaborate on Magellan's interest in the Pocone area by forming a new company. Magellan Minerals President and CEO Alan Carter stated that the company would endeavour to restart discussions previously held with other investors concerning the properties, reports Junior Mining Network.

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Related sectors of this article: Mining
Geography: Brazil