Denarius Metals Announces Decision Not to Proceed with 50/50 Joint Venture with Quimbaya Gold
Denarius Metals (OTCQX:DNRSF) has announced its decision to terminate the previously announced letter of intent with Quimbaya Gold Inc. The company has opted not to proceed with the proposed 50/50 joint venture that was intended to formalize small-scale mining operations within Quimbaya's Tahami Project in the Segovia Gold District of Antioquia, Colombia.
Following extensive due diligence, Denarius Metals' executive chairman Serafino Iacono stated that the company does not see favorable circumstances in the area to implement small-scale mining operations that would provide the necessary social right to operate through the joint venture relationship.
Denarius Metals (OTCQX:DNRSF) ha annunciato la decisione di terminare la lettera d'intenti precedentemente comunicata con Quimbaya Gold Inc. La societ脿 ha scelto di non procedere con la proposta joint venture 50/50 che avrebbe dovuto formalizzare le operazioni di estrazione su piccola scala all'interno del progetto Tahami di Quimbaya, situato nel distretto aurifero di Segovia, Antioquia, Colombia.
Dopo un'attenta due diligence, il presidente esecutivo di Denarius Metals, Serafino Iacono, ha dichiarato che la societ脿 non ritiene favorevoli le condizioni nell'area per implementare operazioni minerarie su piccola scala che garantiscano il diritto sociale necessario per operare tramite la joint venture.
Denarius Metals (OTCQX:DNRSF) ha anunciado su decisi贸n de cancelar la carta de intenci贸n previamente anunciada con Quimbaya Gold Inc. La compa帽铆a ha optado por no continuar con la propuesta de joint venture 50/50 que pretend铆a formalizar operaciones mineras a peque帽a escala dentro del Proyecto Tahami de Quimbaya, en el Distrito Aur铆fero de Segovia, Antioquia, Colombia.
Tras una exhaustiva diligencia debida, el presidente ejecutivo de Denarius Metals, Serafino Iacono, declar贸 que la empresa no ve condiciones favorables en la zona para implementar operaciones mineras a peque帽a escala que proporcionen el derecho social necesario para operar a trav茅s de la relaci贸n de joint venture.
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Denarius Metals (OTCQX:DNRSF) a annonc茅 sa d茅cision de mettre fin 脿 la lettre d'intention pr茅c茅demment annonc茅e avec Quimbaya Gold Inc. La soci茅t茅 a choisi de ne pas poursuivre la proposition de coentreprise 50/50 destin茅e 脿 formaliser des op茅rations mini猫res 脿 petite 茅chelle dans le cadre du projet Tahami de Quimbaya, situ茅 dans le district aurif猫re de Segovia, Antioquia, Colombie.
Apr猫s une diligence raisonnable approfondie, le pr茅sident ex茅cutif de Denarius Metals, Serafino Iacono, a d茅clar茅 que la soci茅t茅 ne consid猫re pas les conditions favorables dans la r茅gion pour mettre en 艙uvre des op茅rations mini猫res 脿 petite 茅chelle qui garantiraient le droit social n茅cessaire pour op茅rer via la coentreprise.
Denarius Metals (OTCQX:DNRSF) hat seine Entscheidung bekannt gegeben, den zuvor angek眉ndigten Absichtserkl盲rung mit Quimbaya Gold Inc zu beenden. Das Unternehmen hat sich entschieden, das vorgeschlagene 50/50 Joint Venture, das kleine Bergbauaktivit盲ten im Tahami-Projekt von Quimbaya im Goldbezirk Segovia, Antioquia, Kolumbien, formalisieren sollte, nicht weiterzuverfolgen.
Nach umfassender Due-Diligence erkl盲rte der gesch盲ftsf眉hrende Vorsitzende von Denarius Metals, Serafino Iacono, dass das Unternehmen keine g眉nstigen Bedingungen in der Region sieht, um Kleinbergbauaktivit盲ten umzusetzen, die das notwendige soziale Recht zur Betriebsaufnahme durch die Joint-Venture-Beziehung gew盲hrleisten w眉rden.
- None.
- Termination of planned 50/50 joint venture with Quimbaya Gold
- Unfavorable conditions for implementing small-scale mining operations in the target area
- Loss of potential mining expansion opportunity in the Segovia Gold District
Toronto, Ontario--(Newsfile Corp. - August 1, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that the Company has given notice of termination to Quimbaya Gold Inc. ("Quimbaya") of the previously announced letter of intent. Following the completion of its due diligence and analysis, the Company has decided not to proceed with the proposed 50/50 joint venture aimed at formalizing existing small-scale mining operations located within Quimbaya's Tahami Project which is located in the Segovia Gold District of Antioquia, Colombia.
Serafino Iacono, Executive Chairman of Denarius Metals, commented, "Our team has considerable experience in exploration, mining and community relations in Colombia, particularly in the Segovia Gold District. After carrying out our extensive due diligence process, we do not see the circumstances in the area that will enable us to implement the small-scale mining operations in a manner that we believe will provide the social right to operate through a joint venture relationship with Quimbaya."
About Denarius Metals
Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF".
In Colombia, Denarius Metals commenced mining operations in the second quarter of 2025 at its
In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a
Additional information on Denarius Metals can be found on its website at and by reviewing its profile on SEDAR+ at .
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated March 31, 2025 which is available for view on SEDAR+ at . Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Michael Davies
Chief Financial Officer
(416) 360-4653
[email protected]
To view the source version of this press release, please visit
FAQ
Why did Denarius Metals (DNRSF) terminate its joint venture with Quimbaya Gold?
What was the proposed joint venture between Denarius Metals and Quimbaya Gold?
Where is the Tahami Project located that Denarius Metals was considering?
What impact does this decision have on Denarius Metals' operations?
