Posted On: 07/31/2012 2:14:28 PM
Post# of 4018
SIRG previously signed an LOI with Kony Minerals S.A. in Bolivia but were unable to secure the funds to develop that project and concentrated on getting the Chloride Mine into production first. This leads me to believe SIRG might be looking for an acquisition or JV in South America as their next project.
Sierra Resource Group Inc Confirms Strategic Alliance With Bolivian Mining Concern
Sierra Resource Group Inc announced that certain rumors are circulating about its relationship with a Bolivian mining concern. In order to dispel these rumors, the Company confirmed that it signed a letter of intent with Kony Minera S.A. on December 15, 2010. The letter set forth the general terms of a potential joint venture regarding an alluvial gold placer mining project near Santa Cruz, Bolivia.
http://www.reuters.com/finance/stocks/SIRG.OB...le/2074541
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