Focus and Daewoo Terminate Aurora JV
VANCOUVER, CANADA--(Marketwired - Dec 14, 2015) - Focus Ventures Ltd. (TSX VENTURE:FCV) announces that its proposed joint venture with Daewoo International Corporation on Focus's Aurora porphyry copper-molybdenum project in Peru has terminated.
Pursuant to an agreement signed in October 2014, Focus and Daewoo were to establish a joint venture to explore and develop the Aurora project, subject to the issuance of a drill permit from the Peruvian authorities. Due to delays in the permitting process, management of Focus and Daewoo decided to discontinue their joint venture arrangement and return the property to the owners.
About Focus
Focus is developing the Bayovar 12 phosphate deposit located 40 km from the coast in the Sechura District of northern Peru. Bayovar 12 hosts a large resource of highly-reactive sedimentary phosphate rock - a key raw material input for fertilizers and vital to world food production. Reactive phosphate rock from Sechura is a natural, slow-release source of phosphorus that can be applied directly to crops. Focus aims to supply direct application phosphate rock to the nearby agricultural regions of South and Central America, the fastest growing fertilizer market in the world.
For further information, please call 604-630-5544 or visit our web site www.focusventuresltd.com.
ON BEHALF OF THE BOARD
David Cass, President
Symbol: TSXV-FCV
Shares Issued: 116.6-million
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements. Often, but not always, these forward looking statements can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.
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Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to expectations that there will be no material adverse change affecting the Company or its properties, and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.
Contact
Ralph Rushton
(604) 630-5544
(604) 682-1514
info@focusventuresltd.com
www.focusventuresltd.com