South America-focused Orosur said on Monday it had received a cash payment of $500 000 from gold major Newmont in connection with maintaining its earn-in rights in the Anzá project in Colombia. The exploration agreement between the parties comprises a three-phase earn-in structure, allowing Newmont to earn up to a 75% ownership interest in the Anzá project by making semi-annual cash payments to Orosur equalling $4-million over phases 1 and 2, spending a minimum of $30-million in qualifying expenditures over 12 years, and also completing National Instrument 43-101-compliant prefeasibility and feasibility studies through the end of Phase 3.
