LATIN AMERICAN ROUNDUP — Minnova to join Joutel in Cuba

A letter of intent which has been signed by Minnova (TSE) with Joutel Resources (TSE) will allow the former to earn a 25% interest in one of Joutel’s three polymetallic projects in Cuba.

Minnova may earn its interest by making cash payments totalling $150,000 and spending $1 million on exploration work during a 4-year period. Minnova’s project selection will be made following Joutel’s signing of a formal agreement with the Cuban government. (Joutel says the agreement is in the final stages.)

Joutel says it has the right to choose three projects in Cuba from large tracts of land reserved by private Canadian company Earthunt International. On all remaining lands reserved by Earthunt, Joutel retains a 0.5% net smelter royalty and is entitled to 25% of all third-party payments.