Mundoro Capital Inc.
Mundoro Capital Inc. is a Canadian mineral exploration and development public company focused on building value for its shareholders through directly investing in mineral projects that have the ability to generate future returns for shareholders.
Mundoro holds a diverse portfolio of projects in Serbia and Bulgaria as well as an investment in a producing gold mine in Bulgaria.
There are eight licenses in Serbia, of which one is optioned to JOGMEC, four licenses are optioned to Vale and three licenses, Zeleznik, Savinac and Bacevica are available for third parties to option.
In Bulgaria, Mundoro has formed a Generative Alliance with JOGMEC. Mundoro's common shares trade on the TSX Venture Exchange under the symbol “MUN”.
Corporate Initiatives to Manage Costs
Mundoro's Catalysts for 2020
The key catalyst for Mundoro in 2020 are:
Mundoro's Project Portfolio in Tethyan Belt
Projects in Serbia
Projects Available for Optioning
JOGMEC-Mundoro JV Project
Borsko is a 35 sq.km license area sole funded by Japan Oil, Gas and Metals National Corporation (“JOGMEC”) as part of the earn-in agreement entered into in 2016. Borsko is located near the central portion of the Timok Magmatic Complex. Borsko is directly adjacent and to the west of the producing Bor copper porphyry mine which is directly west of the Veliki Krivelj copper-gold porphyry mine.
Porphyry & Epithermal Targets
Multiple Porphyry & Epithermal Targets
On October 7, 2019, Mundoro announced it had entered into an earn-in agreement with Vale Canada Limited in which Mundoro had granted to Vale an option to earn-in to four of Mundoro's exploration licenses: Sumrakovac, Osnic, Dubrava and Padina (the “Vale-Mundoro Projects”) located within the Timok Magmatic Complex in Serbia.
The Technical Committee is reviewing work programs in order to be in a position for exploration in the second half of 2020.
Projects in Bulgaria
Byalo and Zvezda Licenses
Focused on Discovering Copper and Gold Resources in Proven Mineral Belts
Management and Directors
Teo Dechev, President & Chief Executive Officer, Director
John Hoey, Non-Executive Chairman
Michael Calyniuk, Independent Director, Chair of Audit Committee
Nick Hatch, Independent Director, Chair of Compensation Committee
Christopher Wong, Chief Financial Officer
Yassen Khrischev, Exploration Manager
Ivan Veljkovic, Projects Administration Manager, Serbia
Richard Jemielita, Chief Geologist
On February 11, 2021, Mundoro Capital Inc. has closed an oversubscribed non-brokered private placement financing raising $3,086,000 through the issuance of 19,287,500 units at 16 cents per unit, subject to final Toronto Stock Exchange approval. Each Unit consists of one common share and one-half of one share purchase warrant.
On January 25, 2021, Mundoro Capital Inc. announced that it intends to undertake a private placement to raise gross proceeds of up to $3,000,000 through the issuance of up to 18,750,000 units ("Units") at $0.16 per Unit ("Offering"). Each Unit will be comprised of one common share of the Company and one-half of one share purchase warrant.
On January 5, 2021, Mundoro Capital Inc. announced that it has commenced drill program on Vale Project in Timok, Serbia. Mundoro has mobilized drill rigs for drilling at the Skorusa licence.
Skorusa is one of the licences being solely financed by Vale Canada as part of the earn-in agreement announced October, 2019. Skorusa is located in the southern portion of the Timok magmatic complex directly southwest of the Bor mining camp. Timok is one of the most prolific metallogenic domains in the western portion of the Tethyan belt. Timok hosts the Cukaru-Peki deposit, the Bor copper porphyry underground mine, the Veliki Krivelj and Majdanpek copper-gold porphyry open-pit mines.
On December 7, 2020, Mundoro Capital Inc. has released its quarterly update for exploration and corporate activity. The Company's quarterly consolidated financial statements and management's discussion and analysis are filed on SEDAR and posted on the Company's website.
Focused to bring additional partnerships: Mundoro entered into a memorandum of understanding (MOU) with Vale in October, 2020, for two additional exploration areas in Serbia – see press release dated Oct. 22, 2020. The Company continues to methodically grow the eastern European exploration portfolio while working on new partnerships for the existing projects available for optioning and joint venture.
Compelling new targets identified: The Vale-Mundoro technical committee has approved a $1.9-million (U.S.) exploration program up to Q4 2021. Five target areas were identified from the exploration program to date for further exploration.
On November 10, 2020, Mundoro Capital Inc. announced that its common shares have been approved for trading on the OTCQB Venture Market. Mundoro's United States listing will trade under the symbol “MUNMF”.
Mundoro also holds Depository Trust Company eligibility. DTC is a subsidiary of the Depository Trust & Clearing Corp., a U.S. company that manages the electronic clearing and settlement of publicly traded companies.
Investors can find current financial disclosure and real-time quote and market information on the Company on the OTC Markets website: www.otcmarkets.com.
On October 22, 2020, Mundoro Capital Inc. announced that it has entered into a binding memorandum of understanding (MOU) with Vale Canada Ltd. for two additional exploration licenses, the Savinac and Bacevica licenses, in Timok, Serbia.
Mundoro is pleased to expand its relationship with Vale by signing this binding MOU for the option of two of Mundoro's projects, the Savinac and Bacevica projects located in Timok, Serbia.
To exercise the Option, Vale must complete the following exploration expenditures:
On August 24, 2020, Mundoro Capital Inc. has released its quarterly update for exploration and corporate activity for the three months ending June 30, 2020. The Company has filed its quarterly Consolidated Financial Statements and Management's Discussion and Analysis on SEDAR at www.sedar.com and posted on the Company's website at www.mundoro.com.
Highlights for Q2-2020
Operational Update and Outlook
Please access to https://mundoro.com/mundoro-announces-q2-2020-exploration-and-corporate-report/ to get the detail information.
On July 3, 2020, Mundoro Capital Inc. has released the voting results of the annual general meeting held on June 30, 2020. Shareholders voted as follows on the matters before the meeting:
Shareholders elected the following 4 board members with shareholders represented at the meeting voting in favour of individual directors as follows:
Appointment of Auditors
Shareholders approved the re-appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year at the remuneration to be fixed by the directors.
The Company's shareholders voted in favor of all matters brought before the meeting. The results of voting will be filed at www.sedar.com.
Furthermore, the Company issued 1,545,000 stock options to its employees, consultants, officers and directors on June 30, 2020. The stock options were issued in accordance with Mundoro's Stock Option Plan, are exercisable into common shares of Mundoro at $0.12 (being the closing price on the TSX Venture Exchange on June 29, 2020) over a five-year term.
On May 22, 2020, Mundoro Capital Inc. has released its quarterly update for exploration and corporate activity for the three months ended March 31, 2020. The Company has filed its quarterly Consolidated Financial Statements and Management's Discussion and Analysis on SEDAR at www.sedar.com and posted on the Company's website at www.mundoro.com.
Mundoro's Objectives for 2020
Corporate and Business Development
Mundoro continues to have discussions with interested third parties regarding Mundoro's projects which are available for optioning, confirming the continued interest in exploring in Timok, Serbia as well as Bulgaria.
Please access to https://mundoro.com/news-archive/ to get the detail information
On April 29, 2020
Corporate Initiatives to Manage Costs
Mundoro's Objectives for 2020
On February 26, 2020, Mundoro reports on Q4-2019 exploration for Serbia and Bulgaria programs.
Mundoro's exploration portfolio of targets, projects and partners is designed such that the success of the company is driven by the proven earn-in funding model.
For details, visit Mundoro website at www.mundoro.com.