Salazar Resources Limited (OTCMKTS:SRLZF) Stock Moves in a Narrow Range

Shares of Salazar Resources Limited (OTCMKTS:SRLZF) have been moving within a narrow range over the past few sessions.

Market Stats

On Tuesday, SRLZF stock moved down by 1.46% to $0.23 with 34k shares, compared to its average volume of 6K shares. The stock has moved within a range of $0.2300 – 0.2300 after opening trading at $0.23.

Adventus Mining and Salazar Resources to Jointly Develop Curipamba Project

Adventus Mining Corporation and Salazar Resources Limited (OTCMKTS:SRLZF) have entered into join venture as announced on January 4, 2022. They have said that the formal earn-in mechanics have been completed, with Adventus now being a 75% owner of the Curipamba copper-gold project in Ecuador.

Both participants have executed a shareholders’ agreement, which will manage the respective rights and obligations as shareholders of the incorporated joint venture company that controls and owns the Curipamba project.

With a 75% ownership stake in the Curipamba project, all initial development capital costs is Adventus’ responsibility. The company is set to receive receives 95% of future net cash flows from operations from Ecuadorian Curipamba holding company Curimining S.A. till all earn-in option expenses and project capital costs funded by Adventus have been repaid. Till now US$44.1 million have been spent on Curipamba as earn-in expenses, up to September 30, 2021.

Adventus is now actively engaged in detailed discussions with potential financing partners, to raise capital so construction at Curipamba can begin. The start of detailed engineering, hiring of key construction personnel and completion of the investment agreement with the government of Ecuador, is expected to commence in the first quarter of 2022, barring any further delays.

Traders Corner

SRLZF stock is trading below the 20-Day and 50-Day Moving averages of $0.2424 and $0.2596 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.2730.