Share Talk spoke with Bill Brodie Good, CEO & Technical Director of Alien Metals about today announcement that Capstone have decided not to proceed with the exploration on Donovan 2. Bill explains the decision making behind today update.
Alien Metals Ltd (LSE AIM:UFO), a minerals exploration and development company, has been advised by Capstone Mining Corp of the termination, with effect from 9 July 2021 (the “Termination Date”), of the Earn-in Agreement signed between Alien, Estrella de Plata, Capstone Mining Corp. and Capstone Gold S.A. de C.V. (together, “Capstone”) on 22 October 2020 (the “Agreement”). The Earn-in Agreement relates to the Company’s Donovan 2 Copper-Gold project (the “Project”) in Mexico.
Bill Brodie Good, CEO & Technical Director of Alien Metals, commented:
“Capstone have decided not to proceed with the exploration on Donovan 2 advising that their corporate strategy has shifted and also that they did not receive sufficient confidence from their maiden drilling recently completed on Donovan 2 to continue. Capstone advised that their work was not exhaustive and with coincidental work just done a couple of days ago by Alien we are already starting to think about how we may approach further exploration work. It has been great working with the Capstone team and we appreciate their input to date which we hope to build and develop on for the future of the project.”
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