Discovery Minerals Ltd (CE) (DSCR) Quote

Discovery Minerals Ltd.,is an acquisition and development company that targets natural resource properties through its subsidiaries. The Board of Directors has determined that these activities be clearly defined and separated within the company. All previous operations and activities such as preciou... Discovery Minerals Ltd.,is an acquisition and development company that targets natural resource properties through its subsidiaries. The Board of Directors has determined that these activities be clearly defined and separated within the company. All previous operations and activities such as precious metals mining & processing and clean alternative energy technology will be preserved and held in new corporate structures subsidiaries. Shareholders will be kept advised of these arrangements in the normal way. The Company has allowed their Option Agreement with Meritus Minerals to expire in Mongolia. Discovery had engaged a local attorney in Ulaan Bataar following a site & Country visit and has completed their Due Diligence investigation. Discovery Minerals Project Manager has recommended that the Project be dropped. Discovery had an option agreement on the Ruby Gold Mine until April 30th but were unable to complete Funding. Negotiations are continuing with the owners & Funders. Further, the company has signed an LOI on two gold ore bodies with the owners in Zambia, Africa. This agreement is subject to conducting a due diligence review of the properties. An additional Zambian copper / cobalt project with certified ore reserves is also under consideration. These projects are in limited production and have a contract to sell the metals produced. Discussions are continuing and revolve around the required Project funding. Show more