Eloro Resources Ltd. has announced significant amendments to the payment terms for acquiring full interest in the Iska Iska silver-tin polymetallic project in southern Bolivia through an agreement with Empresa Minera Villegas S.R.L. The revised financial arrangement includes a substantial credit of US$1.8 million applied toward exploration spending on the adjacent Mina Casiterita property, representing a strategic financial adjustment that reduces immediate cash outlays while maintaining project momentum. This credit mechanism allows the company to redirect capital toward accelerated exploration activities while fulfilling acquisition obligations.
The modified payment schedule now requires cash payments of US$1 million due in 2025 and US$1.65 million due in 2026, providing extended financial flexibility compared to previous terms. Additionally, the agreement covering both the Mina Casiterita and Mina Hoyada properties has been substantially updated, requiring a US$1.8 million payment within one year of securing mining rights and the issuance of 200,000 Eloro shares upon property transfer. These comprehensive adjustments reflect careful financial planning and risk management in developing the mineral assets.
The Iska Iska project, strategically located in the mineral-rich Potosi Department and accessible by road with no royalty obligations, represents a significant development opportunity in one of Bolivia's most promising mining regions. The Potosi Department has historically been recognized for its extensive mineral wealth, making the royalty-free status of this project particularly valuable for long-term economic viability. The region's established mining infrastructure and geological potential enhance the project's strategic importance within Eloro's portfolio.
Eloro's strategic adjustments to both the primary payment schedule and adjacent property agreements demonstrate the company's commitment to advancing exploration and development efforts throughout southern Bolivia. These financial modifications not only facilitate improved cash flow management during the project's development phase but also strengthen Eloro's competitive position within the region's evolving mining sector. The revised terms provide operational stability while maintaining the company's aggressive exploration timeline, positioning Eloro for potential long-term success in Bolivia's mining industry.
