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The results are "helping to verify the upper boundary of the mineral reserve envelope for the Veta Sur system,” said Ari Sussman, CEO of Continental Gold.

Frontera's oil-price hedges have now expired, and it believes that this will be a boon for future earnings as it tries to further move beyond its most trying financial times.

The company’s "credit risk lies in 2020 and 2021, with an expected lower production profile and possibility for lower grades,” stated Fitch.

Multiple municipalities have cast ballots overwhelmingly in favor of vetoing the right of corporations to mine nearby recently in a referendum practice known as a "consulta popular."

The diesel Ecopetrol distributed across Colombia in September had an average of 17 parts per million, just north of the 15 ppm limit mandated in the United States.

The find came at the Acorazado-1 exploration well and marked the Canadian oil company’s fourth discovery in 2018.

To formalize an agreement announced last week, the heads of Ecopetrol and USO sat down yesterday to sign the deal.

The $5 million USD deal includes two mining titles as well as "technical information and ancillary assets," said the Canadian mining firm.

Ecopetrol says it may draw upon the credit line to strengthen its "liquidity position in the face of eventual growth opportunities" or "mitigate risks associated to unexpected fluctuations in crude prices."

"With underground development advancing at a productive rate and providing suitable drilling locations, the company will be more aggressive in drilling," stated Continental Gold.