Living in Peru : your everyday companion

Maple Energy to raise $20 million via share placing

Maple Energy Plc, which is pursuing ethanol and oil exploration projects in Peru, said it is to raise $20 million through a share placing. Proceeds from the placing will be used to finance its ethanol project and its acquisition of a further 3.1 percent stake in Aguaytia Energy. Maple currently owns 17.5 percent of Aguaytia. A roadshow to potential institutional investors will take place between April 28 and May 9, the company said. (Forbes - click here to read complete press release)


Southwestern Announces Joint Venture on Its Cristo De Los Andes Project, Peru

Southwestern Resources Corp. is pleased to announce that its wholly owned subsidiary, Minera del Suroeste S.A.C. has entered into a Letter of Intent with Minera Antares Peru S.A.C., a wholly owned subsidiary of Antares Minerals Inc., whereby Antares can earn up to a 60% interest in Misosa's Cristo de los Andes project, located immediately to the south of Antares' Haquira copper project in south-central Peru. (Marketwire - click here to read complete press release)


Reliance Ind set to buy majority stake in Peru oil block

Reliance Industries Ltd (RIL) is set to acquire majority stake in an oil block in Peru. The company is understood to have recently inked an agreement with Pan Andean for acquiring stake in Block 141 in Peru. Sources told Business Line that an agreement has been signed between RIL and Pan Andean and now necessary approvals from higher authorities in Peru is awaited. (Business Line - click here to read complete article)


Rocmec Works Gold Prospects in Peru & Quebec

Rocmec Mining is moving forward with plans aimed at acquiring and brining into production six mining concessions outside of Arequipa, Peru as it continues to define and delineate gold resources at its Rocmec 1 property in Quebec’s Dasserat Township. The company also continues to develop its thermal fragmentation mining process, which holds out the promise of extracting ore from narrow vein, hard rock ore bodies. Rocmec in March obtained patents for Mexico and Russia, adding to those previously obtained for Canada, Morocco, South Africa and the U.S. (Resource Investor - click here to read complete article by Andrew K. Burger)


Sinchao Metals Step Out Intersects 126 Metres Grading 0.67% Copper

Sinchao Metals Corp. is pleased to announce the results from Drill Hole SDH-34, drilled on the Breccia Zone at the Sinchao Property in Peru. Assays have been received for the interval 0.0m to 501.5m, the bottom of the hole. Drill Hole SDH-34 intersected silicified dacite porphyry and breccia with clasts of quartzite and silicified dacite. (Marketwire - click here to read complete press release)