No acceptable offers were received by Cominco Resources International (TSE) and its joint venture partner for the Lobo gold property in Chile.
N.M. Rothschild & Sons solicited bids for the sale of the property, and although expressions of interest were received from a number of companies, none were considered acceptable by the partners.
The joint venture now expects to have direct discussions with several parties that expressed continued interest in the Lobo property.
In a separate development, Cominco Resources recently arranged the disposal of its 25.7% interest in the problem-plagued Marte gold mine held by its Chilean subsidiary. The disposal of the mine interest was completed under terms that relieve the company of obligations relating to the operation.
The Marte gold mine and the Lobo gold property are both in the Maricunga district of Chile.
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