Euro Sun Mining and Glencore Enter into MOU for Concentrate Offtake
31 Oktober 2024 - 1:00PM
Euro Sun Mining Inc., (TSX: ESM) (“
Euro
Sun” or the “
Company”) is pleased to
announce that they have entered a binding Memorandum of
Understanding (the “
MOU’) with
Glencore International AG
(“
Glencore”) by which Euro Sun grants Glencore the
right of first refusal (“
ROFR”) for an offtake of
all future concentrate to be produced by Euro Sun at its Rovina
Valley Project in Romania. In addition, Glencore has the right to
nominate one director to the Euro Sun board of directors.
Mr. Grant Sboros, CEO of Euro Sun Mining,
expressed enthusiasm about the recently signed MOU, emphasizing,
"We are delighted to announce this offtake concentrate agreement
with one of the world's leading mining companies. This MOU
underscores the growing international interest in our project and
secures future concentrate sales for Euro Sun upon commencement of
production. The Rovina Valley Project continues to represent a
significant investment to benefit Romania, which is also critical
for raw material security in Europe.
About Euro Sun Mining Inc.
Euro Sun Mining is a publicly listed development-stage mining
company focused on unlocking value through the responsible
development of the Rovina Valley Project, one of Europe’s largest
copper gold projects. The Rovina copper and gold deposit located in
west-central Romania, is the second largest in Europe and holds
about 400 million tonnes of confirmed resources containing 7.0
million ounces of gold and 1.4 billion pounds of copper.
About Glencore International AG
Glencore is one of the world’s largest global diversified
natural resource companies and a major producer and marketer of
more than 60 commodities. Founded in the 1970s as a trading
company, Glencore has grown to become a major producer and marketer
of commodities with around 150,000 employees and contractors and a
strong footprint in over 35 countries in both established and
emerging regions for natural resources.
Further information:
For further information about Euro Sun Mining,
or the contents of this press release, please contact Investor
Relations at info@eurosunmining.com
Caution regarding forward-looking
information:
This press release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation. Forward-looking information includes, without
limitation, statements regarding the MOU and Glencore’s ROFR.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including risks inherent in the mining
industry and risks described in the public disclosure of the
Company which is available under the profile of the Company on
SEDAR at www.sedaplus.ca and on the Company's website
at www.eurosunmining.com. Although the Company has attempted
to identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
The TSX does not accept responsibility for the
adequacy or accuracy of this news release.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8b353ed8-3cee-4dde-92aa-9289f3ce7f32
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