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Torq Resources Inc ( (TSE:TORQ) ) has issued an update.
Torq Resources Inc. announced that its shareholders have overwhelmingly approved a joint venture transaction with Gold Fields Limited for the Santa Cecilia project in Chile during their Annual General and Special Meeting. This strategic partnership involves an earn-in option allowing Gold Fields’ affiliate to acquire up to a 75% interest in the project by investing up to USD$48 million over six years. The approval marks a significant step for Torq Resources, potentially enhancing its market positioning and growth prospects in the mining sector. The transaction remains subject to final approval by the TSX Venture Exchange and other closing conditions.
More about Torq Resources Inc
Torq Resources Inc. operates in the mining industry, focusing on exploration and development projects. The company is involved in the identification and acquisition of mineral properties, aiming to develop these assets for future production, with a particular focus on projects in Chile.
YTD Price Performance: 20.0%
Average Trading Volume: 177,113
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$8.34M
Learn more about TORQ stock on TipRanks’ Stock Analysis page.
