Eloro Resources Ltd. has announced amendments to the payment terms for acquiring full interest in the Iska Iska silver-tin polymetallic project in southern Bolivia, in agreement with Empresa Minera Villegas S.R.L. The revised terms include a credit of US$1.8 million for exploration spending on the adjacent Mina Casiterita property, with cash payments of US$1 million and US$1.65 million due in 2025 and 2026, respectively. These financial adjustments provide Eloro with enhanced cash flow management during the critical exploration phase while maintaining progress toward full project ownership.
The agreement for the Mina Casiterita and Mina Hoyada properties has been simultaneously updated, requiring a US$1.8 million payment within a year of securing mining rights and the issuance of 200,000 Eloro shares upon property transfer. This comprehensive restructuring of financial obligations demonstrates Eloro's strategic approach to resource development in the region. The Iska Iska project, accessible by road and free of royalties, represents a significant opportunity in the Potosi Department, known for its rich mineral deposits. The project's location in this historically productive mining district enhances its potential for substantial mineral discoveries.
Eloro's strategic adjustments to the payment schedule and adjacent property agreements underscore the company's commitment to advancing its exploration and development efforts in Bolivia. These changes not only facilitate the financial management of the project but also strengthen Eloro's position in the region's mining sector. The revised terms allow the company to allocate more resources toward immediate exploration activities while maintaining a clear path to full project control. This financial restructuring comes at a crucial time as global demand for silver and tin continues to grow, particularly in renewable energy and technology applications.
The modified agreement structure provides Eloro with greater operational flexibility while ensuring the company can meet its financial obligations without compromising exploration momentum. The inclusion of share issuance as part of the payment package aligns the interests of all parties involved in the project's success. As Eloro continues to develop its Bolivian assets, these financial adjustments position the company to capitalize on the significant mineral potential of the Iska Iska project while managing capital requirements effectively in a challenging market environment.
