Montero Mining and Exploration ( (TSE:MON) ) has shared an announcement.
Montero Mining and Exploration Ltd. has received the final instalment of US$7 million from Tanzania, concluding a US$27 million settlement related to the expropriation of the Wigu Hill rare earth element project. This payment marks the end of the dispute and allows Montero to suspend arbitration proceedings with Tanzania. The company is considering options for distributing the settlement proceeds, including potential returns to shareholders, and will announce its plans in Q2 2025.
More about Montero Mining and Exploration
Montero Mining and Exploration Ltd. is a company involved in the mining and exploration industry, focusing on precious metals and copper projects. It is advancing the Avispa copper-molybdenum project in Chile and is seeking a joint venture partner. Montero is listed on the TSX Venture Exchange under the symbol MON and has 50,122,975 shares outstanding.
YTD Price Performance: 15.00%
Average Trading Volume: 224,630
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$17.29M
For a thorough assessment of MON stock, go to TipRanks’ Stock Analysis page.