Ecometals Limited: Update re Closing of Proposed Sale of Condor Gold Project

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Mon, Jun 28, 2010
Manganese Company News
Post by Anne B, Manganese Researcher

Ecometals Limited (TSX VENTURE:EC)(BERLIN:GDQ)(FRANKFURT:GDQ) reported that on 26 April 2010, Ecometals Limited have received a proposal from Alca Gold Limited requesting an extension to the closing of Ecometals’ agreement with Alca, to sell Ecometals’ shares in Condormining Corporation S.A. and Condorview S.A. to Alca for US$9,000,000.

The press release is quoted as saying:

In return for the extension, Alca intended to make a US$1m payment into an escrow account. Non refundable payments of US$100,000 every 30 days until closing with effect from April 23rd 2010 would then be made from that account to Ecometals.

Click here to access the entire press release

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