On July 4, 2016, Minsud Resources Corp. (TSXV: MSR) announced that it had completed a restructuring and second addendum to the Brechas Vacas Option Agreement.
In 2012, Minsud announced that its Argentine subsidiary, Minera Sud Argentina S.A. (“MSA”), acquired a 50% beneficial interest in a trust that owns the Brechas Vacas properties comprising part of Minsud’s Chita Valley project, with the remaining 50% subject to an option agreement granted in favor of MSA. The following year, Minsud announced the first addendum to the option agreement that extended the period of time in which the company is to pay the semi-annual staggered payments and also extended the expiration of the option agreement.
MSA has now further amended the payment and expiry terms.
Minsud is a mineral exploration company focused on its flagship Chita Valley Cu-Mo-Au-Ag Project in the Province of San Juan, Argentina. Brechas Vacas is made up of three mining concessions in the westernmost part.
Alex Lalka of Miller Thomson advised Minsud with respect to matters relating to this agreement.