CERI Signs Boavita MoU
This map details the Colombian concessions CERI held prior to the Boavita MoU.
Colombia Energy Resources, Inc. (CERI)
signed a Memorandum of Understanding
for the acquisition of the Boavita coal
mining concession. "Preliminary reports
show that the property contains both low
volatile metallurgical coal and semianthracite
coal in significant quantities,"
said Ron Stovash, CEO, CERI. "Our goal
at Boavita is to initiate an exploration program
and mining operations that will
result both in proven reserves and
saleable coal in 2012."
The company expects to enter into a
definitive agreement for the purchase of
the Boavita mining concession by year end.
The concession covers approximately
1,550 hectares (3,830 acres) and brings
the number of its controlled concessions to
10, covering almost 30,000 acres.
As featured in Womp 2011 Vol 09 - www.womp-int.com