Echo Bay backs out of Minoro

The Minoro property is back on the block after being dropped by Echo Bay Mines (TSE).

Tombstone Explorations (TSE) and Mar-West Resources (VSE), which hold the property on an 80-20 basis, respectively, had reached an agreement with Echo Bay, giving the major the right to earn a 51% interest.

Tombstone reports that Echo Bay declined to proceed with the deal, as its board was hesitant to extend the company’s resources into another country. Third parties are conducting technical reviews of the project, and Tombstone expects to sign up a new partner before year-end.