Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
LONGUEUIL, QUÉBEC–(Marketwire – Sept. 9, 2011) – Avala Resources Ltd. (TSX VENTURE:AVZ) (the “Company”) wishes to announce that it has granted an aggregate of 4,860,000 stock options (the “Option”) to directors, officers, employees and consultants of the Company and its Serbian subsidiary. Subject to the terms of the Company’s option plan and regulatory approval, the options are exercisable for a period of five years at an exercise price of $1.20 and are vesting in three equal tranches over a two-year period.
About Avala Resources Ltd.
Avala Resources Ltd. is a Canadian-based gold and copper exploration company with a large block of exploration licenses and one concession within and adjacent to the Timok Magmatic Complex (TMC) in the Republic of Serbia. The common shares of Avala trade on the TSX Venture Exchange under the symbol AVZ. Additional information about the Company is available through regular filings and press releases on SEDAR atwww.sedar.com and on the Company’s website at www.avalaresources.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
