LATIN AMERICA — Arlo to acquire Panamanian properties

Having signed a letter of intent with MinAmerica of Panama, Arlo Resources (ARD-V) plans to acquire four properties on the Cerro Colorado-Chorcha copper-gold trend in western Panama.

The Daira, Manati, Union and Fonesca properties cover a total of 85,950 ha and are flanked by the giant Cerro Colorado project, which is being developed by Tiomin Resources (TIO-T).

To acquire the properties, Arlo will issue MinAmerica 200,000 shares per property over a 3-year period. MinAmerica will retain a 1% net smelter return royalty.