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Orosur Mining Inc on Monday said it has completed the first phase of its joint venture in Argentina, marking a key strategic milestone in the development of the project. The South America-focused minerals explorer said it has completed the first of two phases for its exploration joint venture over the El Pantano gold project in Santa Cruz province, Argentina. This represents a ‘key stage in the exploration agreement’, said Chief Executive Brad George, as the company has now earned a direct 51% interest in the Argentine company that owns the exploration licences, Deseado Dorado SAS, with Orusur having invested $1 million over three years. The firm said it can now move onto the second phase of the joint venture that could result in it gaining full ownership of Deseado upon an additional $2 million investment over two years. Orosur shares fell 5.9% to 13.36 pence on Monday afternoon in London. Chief Executive Brad George commented: ‘We are delighted to have reached this key stage in the exploration agreement. In particular we see the work to date as tremendous testament to the value of back to basics, grass roots exploration - taking an unwanted, untouched region, doing the work, and transforming it into a huge and extraordinarily exciting prospect in a world class province at a time of record gold prices. ‘Together with our partners we are starting to prepare for phase 2 of the project, and we look forward to accelerated exploration activities’. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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