Mundoro says it will continue quality project generation and/or acquisition efforts using its mineral occurrence database to secure key ground in Serbia and Bulgaria. The Company has applied for two additional license areas in Bulgaria in 2016 and will continue this effort into 2017.
Mundoro Capital recently provided an overview of the Company’s goals and growth plans for the coming year.
Mundoro enters 2017 with approximately C$5,000,000 in cash and no debt. The Company will aim to build on the successes achieved during 2016. The list below outlines some of the key catalysts and corporate growth plans for 2017:
– Drill results expected in January from the Skorusa porphyry target located in the Sumrakovac license in Mundoro’s South Timok Properties;
– Exploration work from the ongoing ~C$400,000 (US$300,000) exploration program at the Borsko Jezero license located in the North Timok Properties, funded by partner JOGMEC, has generated targets where a drilling program is anticipated to commence in Q1/2017;
– C$2,000,000 (US$1,500,000) in exploration expenditures is anticipated over the four North Timok Properties (Zeleznik, Borsko, Dubrava and Padina), funded by partner JOGMEC, from April 2017 to March 2018 as per the Amended Option Agreement announced August, 2016;
– C$2,000,000 in exploration expenditures has been budgeted for calendar 2017 to advance the exploration of the Company’s 100% owned projects in Serbia and Bulgaria;
– Mundoro will continue quality project generation and/or acquisition efforts using its mineral occurrence database to secure key ground in Serbia and Bulgaria. The Company has applied for two additional license areas in Bulgaria in 2016 and will continue this effort into 2017; and
– At the same time the Company is continuing discussions with groups regarding their interest to earn-in to Mundoro’s existing projects in Serbia and Bulgaria.
