Camrova Resources Inc. (OTCPink: BAJFF) closed at a price of $ 0.0698 an increase of 313.02%. Camrova stock volume amounted to 4.12K, compared with its average weekly volume of 6.58K. BAJFF stock rose in the absence of current news, so recent developments could give better insight into the BAJFF.
What happened recently?
A number of interested parties are in discussion with the Canadian mining company Camrova regarding the possibility of smelter slag copper processing on a large scale at the Las Vacas flotation plant in Chile. In addition, BAJFF owns 6.91 percent of the Boleo copper mine in Mexico, which is owned by KORES in majority.
An update on the current status of its proposed slag processing facility in Chile was recently provided by Camrova.
- BAJFF has amended an existing agreement with Sociedad Asesorias Comerciales e Inversiones MAYG SpA (“MAYG”).
- They sought to acquire all rights, title, and interests that may belong to MAYG under a slag agreement (the “Slag Agreement”) between MAYG and Anglo American Sur S.A. dated February 18, 2019.
- BAJFF will now no longer need to consolidate its common shares under the amendment agreement.
- In addition, the cash payable on closing will be reduced by $250,000 from the previous $500,000.
- It will also reduce the number of shares of the BAJFF that MAYG will receive to 3,000,000 (previously 5,096,154 post-consolidated shares).
- The BAJFF must still complete a CDN $9 million financing in order for the Slag Agreement to close.
What BAJFF will get?
Camrova (BAJFF) will be granted the right to remove slag from the Chagres slag pile to be processed. About 2.4 million metric tons of slag is currently on-site, growing at a constant rate of about 30,000 tons a month, containing about 1% copper. The BAJFF plan is to produce 20% copper concentrate by processing the slag.