TORONTO (miningweekly.com) – Vancouver-based Greystar Resources, which owns the Angostura gold-silver project in Columbia, has changed its name to Eco Oro Minerals, it said on Thursday.
The company’s board approved the move on August 10, and its shares will start trading under the new name and stock symbol EOM on the TSX on Friday.
Eco Oro said August 11 it would complete an optimized preliminary economic assessment on the Angostura deposit by the fourth quarter of this year, with a prefeasibility study due for the third quarter of 2012 and a full feasibility study complete by the following quarter.
In March, the firm withdrew its permitting applications for the mine, after the Columbian government indicated it would not approve the operation.
The following month, it replaced its board of directors, appointing Rafael Nieto Loaiza as president, while former CEO David Rovig was named interim CEO.
Eco Oro then said it was planning on building an underground mine instead of the previously envisaged large openpit operation, with a view to appease the government’s concerns over environmental impacts.
Its shares shed over 5% on Thursday to trade at C$2.24 by 13:43 on the TSX, as investors dumped mining and metals stocks. The sector was down by a similar percentage.