The principal terms of the Cotabambas Early Deposit Agreement are as described in the Company's press release on
Panoro is entitled to receive
Together with this payment, the total advanced to date is
Issuance of common shares
The Company also announces that, pursuant to the amended employment agreement ('Amendment Agreement') between the Company and the Company's Chief Executive Officer, which defines a portion of his remuneration to be satisfied by the issuance of common shares of the Company on a quarterly basis, until
About Panoro
Panoro is a uniquely positioned
Panoro has completed strategic partnerships at four of its projects: 1. Precious Metals Purchase Agreement withWheaton Precious Metals at theCotabambas Project ; 2. Joint Venture with JOGMEC at theHumamantata Project ; 3. Sale toHudbay Minerals of theKusiorcco Project for cash and NSR royalty and 4. Sale to Mintania of theCochasayhuas Project for cash and NSR royalty.
These partnerships would provide, if all received,
At the
The PEAs are considered preliminary in nature and include Inferred Mineral Resources that are considered too speculative to have the economic considerations applied that would enable classification as Mineral Reserves. There is no certainty that the conclusions within the updated PEA will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
Contact:
Tel: 604.684.4246
Fax: 604.684.4200
Email: info@panoro.com
Web: www.panoro.com
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information and statements contained in this news release that are not historical facts are 'forward-looking information' within the meaning of applicable Canadian securities legislation and involve risks and uncertainties.
Examples of forward-looking information and statements contained in this news release include information and statements with respect to: acceleration of payments by
Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. In some instances, material assumptions and factors are presented or discussed in this news release in connection with the statements or disclosure containing the forward-looking information and statements. You are cautioned that the following list of material factors and assumptions is not exhaustive. The factors and assumptions include, but are not limited to, assumptions concerning: metal prices and by-product credits; cut-off grades; short and long term power prices; processing recovery rates; mine plans and production scheduling; process and infrastructure design and implementation; accuracy of the estimation of operating and capital costs; applicable tax and royalty rates; open-pit design; accuracy of mineral reserve and resource estimates and reserve and resource modeling; reliability of sampling and assay data; representativeness of mineralization; accuracy of metallurgical test work and amenability of upgrading and blending mineralization.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ materially from those expressed or implied by the forward-looking statements, including, without limitation: risks relating to metal price fluctuations; risks relating to estimates of mineral resources, production, capital and operating costs, decommissioning or reclamation expenses, proving to be inaccurate; the inherent operational risks associated with mining and mineral exploration, development, mine construction and operating activities, many of which are beyond Panoro's control; risks relating to Panoro's ability to enforce Panoro's legal rights under permits or licenses or risk that Panoro's will become subject to litigation or arbitration that has an adverse outcome; risks relating to Panoro's projects being in
This list is not exhaustive of the factors that may affect the forward-looking information and statements contained in this news release. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forwardlooking information. The forwardlooking information contained in this news release is based on beliefs, expectations and opinions as of the date of this news release. For the reasons set forth above, readers are cautioned not to place undue reliance on forward-looking information. Panoro does not undertake to update any forward-looking information and statements included herein, except in accordance with applicable securities laws.
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