Eloro Resources Ltd. has announced amendments to the payment terms for acquiring full interest in the Iska Iska silver-tin polymetallic project in southern Bolivia, in agreement with Empresa Minera Villegas S.R.L. The revised terms include a credit of US$1.8 million for exploration spending on the adjacent Mina Casiterita property, with cash payments of US$1 million and US$1.65 million due in 2025 and 2026, respectively. These financial adjustments provide Eloro with improved cash flow management while maintaining progress on the significant mineral property acquisition.
The agreement for the Mina Casiterita and Mina Hoyada properties has been updated, requiring a US$1.8 million payment within a year of securing mining rights and the issuance of 200,000 Eloro shares upon property transfer. The Iska Iska project, accessible by road and free of royalties, represents a significant opportunity in the Potosi Department, known for its rich mineral deposits. Eloro's strategic adjustments to the payment schedule and adjacent property agreements underscore the company's commitment to advancing its exploration and development efforts in Bolivia.
These changes not only facilitate the financial management of the project but also strengthen Eloro's position in the region's mining sector. The modified payment structure allows the company to allocate resources more efficiently toward exploration activities while securing full ownership of the promising silver-tin polymetallic property. The inclusion of share issuance as part of the payment arrangement aligns the interests of all parties involved in the project's development.
The revised terms demonstrate Eloro's strategic approach to project acquisition and development in the mineral-rich Potosi region. By restructuring the financial obligations across multiple years and incorporating exploration credits, the company maintains its operational momentum while managing capital requirements. The Iska Iska project's royalty-free status and road accessibility further enhance its appeal as a development opportunity in Bolivia's established mining district.
