Vale Canada Limited (Vale) acquired the option to earn-in in four of Mundoro Capital Inc’s (Mundoro) exploration licenses in Timok complex. The earn-in relates to Sumrakovac, Osnić, Dubrava and Padina properties, hosting primarily the copper-gold mineralization (Projects).
Under the agreement, Mundoro has granted to Vale the option to earn up to a 75% interest in the Projects over two phases by funding expenditures of up to $45 million.
Karanović & Partners acted as local legal counsel for Vale in this transaction with core team comprised of Senior Partner Dragan Karanović, Partner* Petar Mitrović and Junior Associate Katarina Tomić. The services included conducting a due diligence and transaction assistance.
*Independent attorney at law in cooperation with Karanović & Partners