La Bodega to be operated by Ventana

The Colombian gold-mine La Bodega is to be operated by the Canadian firm Ventana Gold Corporation. The company has secured a loan of US$750,000 and will use 67% of the credit to make a payment related to La Bodega; the other third will become working capital for the reserve.

The loan stems from a company controlled by a member of the Ventana board, said firm set to receive warrants further down the line for negotiation on the stock exchange. Ventana Gold has a concession of 3,788 ha for gold exploration in the Colombian municipalities of California and Vetas in the Santander region.

Publication: SABI - Business News
Provider: South American Business Information
Date: March 16, 2008

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