| INV Metals Announces Fulfillment of Loma Larga Expenditure Commitment | |
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TORONTO, ONTARIO--(Marketwired - Dec 30, 2015) - INV Metals ("INV Metals" or "Company") (INV.TO) is pleased to announce that IAMGOLD Corporation ("IAMGOLD") has agreed to extinguish INV Metals' remaining expenditure commitment required under the 2012 Loma Larga ("Property") purchase agreement. In exchange, INV Metals has agreed to forgive IAMGOLD's indebtedness to INV Metals of approximately US$191,000 for various severance payments incurred by the Company. INV Metals has now effectively fulfilled its contractual obligation to IAMGOLD to expend C$15 million on the Property by the earlier of March 6, 2016 or the completion and filing of a bankable feasibility study. INV™ Metals INV™ Metals is an international mineral resource company focused on the acquisition, exploration and development of base and precious metal projects in Ecuador and Namibia. Currently, INV™ Metals' primary assets are: (1) its 100% interest in the Loma Larga (formerly Quimsacocha) gold property in Ecuador, and (2) its 35% interest in the Kaoko property, located in Namibia.
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INV Metals Inc.
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EXPLORATION STAGE |
CODE : INV.TO |
ISIN : CA46123C1086 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
INV Metals is a nickel development stage company based in Canada. INV Metals holds various exploration projects in Brazil. Its main exploration properties are THORNE LAKE in Canada, KAOKO in Namibia and RIO NOVO and ITAPORÃ in Brazil. INV Metals is listed in Canada. Its market capitalisation is CA$ 61.1 millions as of today (US$ 48.6 millions, € 41.1 millions). Its stock quote reached its highest recent level on December 29, 2006 at CA$ 2.45, and its lowest recent point on June 20, 2014 at CA$ 0.02. INV Metals has 92 590 000 shares outstanding. |