Earlier this year, Trans America Industries (VSE) optioned a property near Antofagasta, Chile, hosting reserves of iodine and other industrial minerals.
The company then acquired $500,000 from the sale of warrants to raise part of the working capital necessary to pursue a bankable feasibility study for the project.
A major American company previously spent US$4.5 million in title settlement, drilling, bulk-sampling, metallurgical testing and feasibility work.
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