Appian Capital Advisory’s Atlantic Nickel has released the results from a preliminary economic assessment (PEA) of its wholly owned Santa Rita nickel-copper-cobalt mine in northeastern Brazil.

Company has withdrawn its 2020 production, cash cost and capital expenditure guidance for its copper and gold mine in Brazil after a power outage caused damage to all four of the operation’s SAG and ball mill motors.

Country still takes baby steps when it comes to research and exploration compared to major producers like Canada and Australia, or even neighbors Chile and Peru.

Activities at the Viga mine are unaffected, company said.

Encuentro Ciudadano is preparing a report aimed at informing discussions currently underway to modify the country’s mining law.

Shares of Aurania Resources surged 14.5% on the latest development.

Company announced that it has entered into a letter of intent with ESV Resources to spin out its interest in the Zancudo Project in Antioquia to ESV.