Malaga Inc (MLGAF)

[HRUIBAL1]

Two mining companies interested in Pasto Bueno of Malaga

The only mine in Peru, Pasto Bueno tungsten which belongs to the company with headquarters in Montreal Malaga in the Ancash Region, received expressions of interest from two Peruvian mining companies seeking to finance the restart of the operations and management of the mine, said a representative of Malaga.

The decision on which of the two will handle good pasture will be taken on March 15, said the representative.
'After the 15 we will know which of these two groups is going to be the new administrator... and would already have an answer who are new investors and when is the new reset program'.

The operations of the mine were suspended last October because of an accident that damaged the processing plant power transmission line, so that Malaga had to seek additional financing in order to restart operations.

In December, the company announced that it had obtained a credit of US$ 2mn, and signed a contract for the sale of by-product copper from the mine, although it still needs financing to resume operations.

Because of the audit process is carried out, the only representative of the company could say told BNamericas that two possible good pasture managers ' are two groups that have a mining very strong... a group is chileno-peruano and another is Peruvian '.

The new administrator will also be in charge of the purchase and sale agreement signed by Malaga.

Invergroups


Posted on Wednesday, March 6, 2013