| CALCATREAU Project |
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CALCATREAU |
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Country |
Argentina
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Province |
Rio negro |
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Close to |
Bariloche |
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Status |
ADVANCED DISCOVERY
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Surface |
2,930 km² / 724,003 acres |
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Latitude / Longitude |
41 S 38 / 69 W 24 |
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Legends
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Explores for
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Gold - Silver -
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| Risk and valuation analysis of the CALCATREAU Project |
| Status Risk : Advanced discovery |
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| Title(s) of the CALCATREAU Project |
 | Pan American Silver Corp.
Owner: 100% |
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| Title | Company Profile | All Projects | Company website | Company project page |
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| Newmont Mining Corporation (Newmont) purchased Normandy in 2002 and the project passed into
its hands in the deal. It was reported that Newmont determined that Calcatreu did not meet
corporate size objectives and they elected to dispose of Normandy SA through an auction process in
September, 2002. Aquiline Resources Inc. (Aquiline) of Toronto, Canada was the winning bidder.
The final agreement was signed by Aquiline in June, 2003 and allows it to purchase 100% of the
property and acquire Normandy SA by paying Newmont US$2.05 million in a series of staged
payments over three years. The project is subject to a 2.5% net smelter return royalty payable to
Newmont on any production. Newmont also retains a back-in right over much of the property
however, the central mining claim areas of Nabel, where Vein 49 and Nelson are located, are not
subject to this right. |
 | Newmont Mining Corp |
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| Title | Company Profile | All Projects | Company website | Company project page |
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| History of the CALCATREAU Project |
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The project was originally owned by French government entity, La Source
Developpement Argentine (La Source) and was acquired by Normandy Mining of
Australia (Normandy) with the purchase of La Source in 1998. Newmont Mining
Corporation purchased Normandy in 2002 gaining project ownership. An agreement to
purchase Normandy SA, the owning entity of the project, over a three year period, was
reached with AQI in 2003.
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| Discoveries and Drilling Results | |
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Data last updated on : 4/22/2008
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Disclaimer
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All information on this page comes from internal and external sources deemed reliable. This information might not be up to date, so please perform due diligence before making any conclusion or making any action. Do contact us should any information be missing or incorrect.
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