Orea Mining: Falls on termination of letter of intent to acquire Colombia project

Orea Mining

25/03/2021 14:30

** Canadian gold miner's shares  OREA.TO  down 4.3% at
C$0.11 in early trading
    ** Co terminates a letter of intent to acquire a gold
project in Colombia  urn:newsml:reuters.com:*:nPn8JkLdha
    ** Decision to terminate was made after the completion of a
detailed due diligence evaluation, which included a site visit,
co says
    ** On Jan. 7, OREA had announced the signing of a binding
letter of intent (BLOI) to acquire gold projects with an
existing ore processing facility, including significant plant
and equipment, in Colombia  urn:newsml:reuters.com:*:nPn2DdLVta
    ** BLOI was signed with the sellers to acquire a 100%
interest in 13 mining concessions in 3 separate blocks 
    ** Including the session's losses, stock down ~42% YTD

 (Reporting by Sahil Shaw in Bengaluru)
 ((sahil.shaw@thomsonreuters.com))