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“The agreement unites the shareholders of Eco Oro in pursuit of its arbitration claim against the Republic of Colombia,” said Eco Oro.

Three rigs are now operating in this 15,000-meter exploration campaign, and two more are planned to join the effort later this year.

Anna Stylianides, executive chairman of the company’s board, will serve as interim president and interim CEO, said Eco Oro in a statement.

The South African mining company said it made the "unfortunate decision to stop all project activities...until there's certainty about mining activity in the country."

While confirming the news, the gold mining company said that the director's resignation was "due to other business and personal commitments."

The credit agreement is expected to provide immediate access to $100 million USD for project development, construction, and working capital.

Brazil Resources Inc shares initially jumped 20% after the U.S. economic data came in to put it up more than 500% for the year.

"We look forward to completing environmental permitting later this year and commencing project financing and development shortly thereafter,” says CEO Ari Sussman.

In an interview with Bloomberg News, Continental Gold Ltd. CEO Ari Sussman says the mining company is preparing to list shares on the Bolsa de Valores de Colombia, with a target of raising roughly $20 million (USD) to increase liquidity and the company’s investor base. The...

Gran Colombia Gold, the Canadian based gold and silver mining concern, announced today that it sent US$1,058,062 to the trustee to fund monthly interest payments to be made on February 27, 2015 on its Senior Secured Gold-Linked Notes due 2017 and its Senior Unsecured...