An agreement was reached between Coral Gold (TSE) and Avino Mines and Resources (VSE) over the sale to Avino of the company’s 30% interest in the Loco property. Avino will pay Coral $278,000 in cash plus a promissory note for $122,000. The property is adjacent to the Bralorne-Pioneer gold mine in southern British Columbia.
The note is payable if the property is put into commercial production or is sold or becomes a joint venture with a third party.
In a separate item, Coral plans to delist from The Toronto Stock Exchange in order to conserve cash.
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