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Montero Mining and Exploration ( (TSE:MON) ) just unveiled an update.
Montero Mining and Exploration Ltd. has finalized a US$27 million settlement with Tanzania over the expropriation of the Wigu Hill rare earth project, to be paid in three installments. The net amount to Montero after expenses is approximately C$20.58 million, and the company is considering a return of capital to shareholders, pending accounting review and board approval. The settlement has led to a suspension of ICSID arbitration proceedings, which will be discontinued upon final payment, although Montero retains the option to resume arbitration or enforce the settlement if payments are not made.
More about Montero Mining and Exploration
Montero Mining and Exploration Ltd. is involved in the mining industry, focusing primarily on rare earth elements, precious metals, and copper projects. The company is advancing the Avispa copper-molybdenum project in Chile and is seeking joint venture partners. Montero is listed on the TSX Venture Exchange under the symbol MON.
YTD Price Performance: 0%
Average Trading Volume: 237,673
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$15.29M
For a thorough assessment of MON stock, go to TipRanks’ Stock Analysis page.
