Duran Ventures (DRV.V) has now received the final environmental permit from the Peruvian government for its Aguila Norte processing plant, which has been operating under the provisional permit. With this official permit now in its hands, Duran could now try to permit an expansion of the current plant.
Of course, the company’s financial situation will have to allow this, and on top of an US$200,000 credit facility with Ocean Partners (the offtake party for Duran’s concentrate), the company has announced a private placement to raise up to C$250,000. Two tranches have already been closed, and the placement consisted of C$0.05 units with each unit representing one share and a half warrant. Each full warrant allows the warrant owner to acquire an additional share at C$0.075 within two years after the placement closes.