Eloro brings in Yamana’s Peter Marrone to advise on Iska Iska

ELO.V, Eloro, 321gold.com, Bob Moriarty, Bolivia, Iska Iska property,

Tom Larsen, CEO of Eloro Resources (ELO.V), knows that the company’s Iska Iska silver tin deposit in Bolivia is big. Just how big is being delineated with a significant drilling program. A full 43-101 mineral resource is expected in Q3 of 2022.

Having a huge mineral deposit in a relatively friendly mining jurisdiction is both a wonderful thing and something of an issue: the company becomes a natural target for larger, well-financed, mining companies. The challenge is ensuring that the shareholders, in the event of a takeover or merger, are fairly compensated.

Eloro announced today that Peter Marrone, currently the Executive Chairman of Yamana Gold, would be acting as an “independent advisor to provide support and strategic advice to management on matters of project advancement and business development in relation to its Iska Iska project.”

Marrone is presently overseeing the takeover of Yamana Gold by Gold Fields Limited in a transaction worth a little over 6.7 billion dollars.

The Gold Fields transaction is in the process of being finalized and it illustrates Marrone is comfortable and experienced thinking strategically about large mining projects. There are simply not that many people in the world who have ever negotiated and executed at this level.

In today’s release, Marrone states, “I am impressed with the size and scale of Iska Iska which should be developed in time as a world class tin-silver deposit with large scale production, all of which coincides with a time when tin in particular is in high demand and silver is a necessary component for decarbonization.  The tin market is intriguing to me. It is poised for what appears to be a clear upward path for demand and price”

Marrone goes on to say, “Simply put, Iska Iska is a world-class project and I look forward to helping management to increase value for Eloro shareholders.”

Bringing a person of Marrone’s calibre on board at a relatively early stage in the development of the Iska Iska asset signals to Eloro’s shareholders and to the mining community at large that Larsen and his Board are fully aware of Iska Iska’s potential.


Leave a Reply

Your email address will not be published. Required fields are marked *