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ELEMENTOS LIMITED — Capital/Financing Update 2010
Oct 26, 2010
64837_rns_2010-10-26_c911a46f-032a-4159-bae6-b065238fe88e.pdf
Capital/Financing Update
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27 OCTOBER 2010
EXTENSION OF SANTO DOMINGO OPTION TO PURCHASE AGREEMENT
Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) is pleased to announce that the option to purchase the Santo Domingo property has now been extended by four years to October 2015.
The extension allows the Company additional time to complete exploration activities. In particular, Elementos can now:
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Advance exploration activities on both the main porphyry and the new polymetallic vein targets where the Company has had recent exploration success;
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Complete the geophysical studies and drilling of advanced exploration targets;
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Generate new targets over the large 250 square kilometre project area; and,
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Negotiate possible partnerships with interested corporations to continue developing the Santo Domingo porphyry prospects.
The new contract terms provide for bi-annual option payments of US$35,000 commencing in October 2011, and an exercise price of US$530,000 on or before October 2015.
Elementos Managing Director, Corey Nolan, said, “The new contractual arrangement is of significant benefit to the Company. Elementos now has the flexibility to coordinate exploration programs across different prospects, additional time to advance the porphyry and polymetallic vein targets, and to negotiate with development partners on the porphyry prospects. This has occurred at a time when the Company is achieving exciting exploration success at Santo Domingo”.
For more information, please contact: Corey Nolan Managing Director Phone: +61 (7) 3871 3985 Email: [email protected]
Elementos is an Australian, ASX-listed, exploration company, with a number of projects in Argentina and Australia, which offer attractive investment environments. The properties are all in mineral rich, highly prospective provinces, with developed infrastructure nearby.
Please visit us at www.elementos.com.au
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