Canadian Mundoro interested in strategic cooperation with RTB

The Canadian company Mundoro is interested in strategic cooperation and partnership with Mining and Smelting Basin Bor (RTB), primarily on already known deposits “Cerovo primarno” and “Jama” in Bor, as well as “Severni revir” and “Coka Marin” in Majdanpek, announced RTB.

Ms. Teodora Dechev, Mundoro President of the Board announced after the meeting with RTB management that the talks are expected to continue and that the Bor company has the potential for development.

“The first meeting with the Canadian company obliges us to sign the confidential information memorandum. We will do this as soon as possible, and afterwards we will initiate discussion just like with all other companies that are interested in cooperation with RTB,” said RTB General Manager Blagoje Spaskovski.

Mundoro has been engaged in geological explorations worldwide since 1999, and it has been conducting exploration activities in the vicinity of Bor since 2011, where there are eight exploration sites.

The company conducted first exploration works in China, where it won the tender for gold deposit in the northeastern part of the country.

Before the takeover, this deposit was estimated to contain one million ounces of gold, and then, after conducting all exploration activities, its value has been increased to 10 million ounces. “Mundoro later re-sold the mine to Chinese state-owned company, and owing to this transaction the company arrived to Serbia and Bulgaria, it is said in RTB statement.