Since we introduced the Canadian gold explorer Quimbaya Gold (WKN A3DT3C / CSE QIM) and its Tahami project in Colombia to Goldinvest.de readers in January, the stock has already gained around 30%. The focus of CEO Alexandre P. Boivin’s company is on conducting the first drilling on the Tahami South project as quickly as possible. With this, they want to find out if the theory is correct that the extremely high-grade gold mineralization found on the property of neighbor Aris Mining also continues on their own territory.
Preparations are in full swing; for example, a drilling company has already been commissioned to carry out the first 4,000 meters of drilling. In parallel, Quimbaya is also advancing further project and company developments.
30% Discount Negotiated
The company announced today that the final payment for four concession contracts totaling 1,624 hectares in the Tahami project area has been made. In doing so, Quimbaya managed to negotiate a reduction of the due amount from 200,000 to 135,000 USD.
CEO Alexandre P. Boivin explained: “We are pleased that we were able to secure these important land packages with the final payments for our promising Tahami area under modified terms, resulting in a 30% savings compared to the original final payments.”
Quimbaya also announced that the expiry date of a total of 1,589,344 outstanding warrants has been extended, of which 1,241,070 warrants are related to the completion of a non-brokered private placement on June 5, 2024, and 348,274 warrants are related to the completion of a non-brokered private placement on November 1, 2024.
The initial exercise price of the June Warrants and November Warrants is $0.75 and remains unchanged. The June Warrants have an original expiry date of June 5, 2025, and the November Warrants have an original expiry date of November 1, 2025. The company proposes to extend the expiry date of the June Warrants and November Warrants by an additional year to June 5, 2026, and November 1, 2026, respectively. All other terms of the June Warrants and November Warrants remain unchanged. They are now awaiting stock exchange approval.
