Compania de Minas Buenaventura SAA enters agreement with Global Geoscience for Mancha Pampa Project
Fri. October 10, 2008; Posted: 07:28 AM
Oct 10, 2008 (M2 EQUITYBITES via COMTEX) --
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PowerRating -- Compania de Minas Buenaventura SAA (NYSE:
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PowerRating) (Lima Stock Exchange:
BUE.LM), a precious metals mining company, said on 9 October that it
has signed an agreement with Global Geoscience (ASX: GSC) for the
exploration of the Peruvian Mancha Pampa copper-gold porphyry project.
The agreement provides Compania de Minas Buenaventura SAA with a 61%
ownership interest in the project for an investment of USD3m in
exploration over a duration of five years.
Additionally, Compania de Minas Buenaventura will have the option to
raise the stake by an additional 19% through the completion of a
feasibility study and if Global Geoscience elects not to participate in
this expenditure.
The Mancha Pampa project, which is 100% owned by Global Geoscience, is
located 150km southeast of Lima in the Yauyos District of central Peru.
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