Cerro de Pasco Resources (CSE:CDPR, OTC:GPPRF) has updated shareholders regarding its Peruvian operations.
CDPR, as the titleholder of the El Metalurgista concession in Peru, has advanced in the legal easement procedure for exploring and exploiting the Quiulacocha Tailings.
The Mining Bureau of the Ministry of Energy and Mines has confirmed the enforceability of these rights, CDPR said in a statement.
The corporation has successfully navigated through several steps of the easement process, awaiting final signatures on the Supreme Resolution by key government officials.
“At this time we are not aware of any additional requirement that should be met for the granting of the easement, as CDPR has fulfilled all the legal and technical requirements set forth by Peruvian law for those purposes,” the company said in a statement.
Pending the easement's signature, a $2.5 million investment is being held by Lavery, de Billy acting as an escrow agent, CDPR said.
Additionally, CDPR has announced a partial debt settlement agreement, issuing 2 million shares to Riverfort Global Opportunities PCC LTD in partial repayment of an outstanding amount.
The firm also said it has made amendments to the terms of outstanding share purchase warrants, extending their expiry date to April 8, 2026, and reducing their exercise price. Furthermore, CDPR has entered into a consultancy agreement, issuing common shares to consultants and granting stock options.