SERBIA

Our projects in Serbia

OVERVIEW

  •   EU candidate since March 2012
  •   Mining and geological exploration law approved December 2015
  •   Mining history dating back to the Middle Ages.
  •   Source of base and precious metals since Roman times
  •   Transparent and fast process for company registration
  •   Highly skilled and affordable labour
  •   Corporate tax rate of 15%

TIMOK PROJECTS AVAILABLE FOR OPTIONING

STATUS: Available for Option

  • New copper and gold targets at the north end of the license require drill test
  • Exploration to date discovered to mineralized systems at the south end of the license
  • Expansion drilling required to expand known zones

JOGMEC-MUNDORO PROJECT

JV STATUS: In May 2019, JOGMEC elected to proceed to Phase 2 to sole fund exploration in 2019.

NEXT MILESTONE: Reinterpretation of geophysics for next phase exploration program. 

FREEPORT-MUNDORO PROJECTS

STATUS: Freeport completed US$2.4 million expenditures between October 2018 to December 2019.

NEXT MILESTONES: 1. Drilling commenced in Q4-2019 2. Results in Q2-2020

VALE-MUNDORO PROJECTS

STATUS: Enter into earn-in agreement on October 2019

NEXT MILESTONE: Exploration in the 2nd half of 2020 for testing of structural and geophysical features.