Resumen: La empresa Vena Resources (VEM) anuncia que su subsidiaria Azulcocha Mining SA (de la cual posee el 70% de la propiedad) ha estado trabajando con Trafigura Beherr para reestructurar su participación y responder a una notificación de incumplimiento recibida por parte de esta última empresa y Consorcio Minero SA, filial peruana de Trafigura.
Azulcocha se encuentra en incumplimiento de pagos de préstamos hacia Trafigura. Este préstamos fue destinado a la terminación de la construcción de la actual fábrica. Trafigura ha notificado a Azulcocha que está en incumplimiento de sus obligaciones y ha exigido el pago; la empresa podría tomar acción legal en contra de Azulcocha si el pago no se hace.
Por otro lado, en los últimos dos meses, Azulcocha y Trafigura han tenido discusiones sobre la venta del 70% de la propiedad de Vena de Azulcocha a Trafigura. El directorio de la compañía ha creado un comité especial para evaluar la propuesta presentada por la empresa Trafigura y continúa trabajando en los detalles para concluir un acuerdo de compra de acciones potenciales que pusiera fin a todas las cantidades pendientes de pago entre Azulcocha y Trafigura; mientras se modifican los acuerdos existentes.
Vena Resources Provides Update on Azulcocha Mining Project
TORONTO, Sept. 24, 2012 /CNW/ - Vena Resources Inc. ("Vena" or the "Company") (TSX: VEM, LIMA: VEM, Frankfurt: V1R, OTC-BB: VNARF, Xetra®: V1R.DE), announces that its 70% owned subsidiary, Azulcocha Mining S.A. ("Azulcocha") has been working with Trafigura Beheer B.V. to restructure its shareholding and respond to a notice of default received from Trafigura Beheer B.V. and Consorcio Minero S.A., Trafigura's Peruvian subsidiary (collectively, "Trafigura").
As disclosed in the Company's most recent Management's Discussion and Analysis and Financial Statements for the second quarter ended June 30, 2012, Azulcocha was behind in one loan payment and the Company is now in default in loan payments aggregating US$3,199,332, together with interest in connection with loans made by Trafigura to Azulcocha to complete the construction of the now fully permitted 500 tpd mill. Trafigura has notified Azulcocha that it is in default of its payment obligations and has demanded payment of the overdue amounts and stated that it may take legal action against Azulcocha if payment is not made.
Over the last two months, Azulcocha and Trafigura have had ongoing discussions regarding these liabilities, including discussions that would provide for the sale of Vena's 70% ownership of Azulcocha to Trafigura. The Company's board of directors created a special committee of independent (non-management) directors to evaluate a proposal made by Trafigura and continues to work on details to finalize a potential share purchase agreement that would settle all unpaid amounts that are due and payable by Azulcocha to Trafigura while amending its existing agreements. As part of this process, Vena and Trafigura also agreed to allow interested third parties to evaluate Azulcocha as a potential purchase. The Company is working at finalizing a binding agreement in the near term and is actively discussing and seeking other potential transactions, and is continuing to use every effort to reduce or delay expenditures, seek additional capital, and / or restructure or refinance its indebtedness.
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