The latest update is out from Jazz Resources ( (TSE:JZR) ).
JZR Gold Inc. has entered into a loan agreement with Eco Mining Oil & Gaz Drilling and Exploration Ltda., agreeing to lend up to US$2,000,000, with US$1,800,000 already advanced. This financing aids Eco in acquiring and assembling a gravimetric mill essential for the Vila Nova gold project in Brazil, in which JZR holds a 50% net profit interest in the gold produced. The loan is secured against the mill and certain rights and is pending acceptance from the TSX Venture Exchange, indicating strategic investment by JZR to advance its stake in the project.
More about Jazz Resources
JZR Gold Inc. operates in the mineral exploration industry and focuses on gold production. The company is involved in projects such as the Vila Nova gold project in Brazil, partnering with Eco Mining Oil & Gaz Drilling and Exploration Ltda.
YTD Price Performance: 4.35%
Average Trading Volume: 29,331
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$12.99M
For an in-depth examination of JZR stock, go to TipRanks’ Stock Analysis page.