Concordia Resource Corp. ("Concordia") is a well-financed junior explorer seeking to identify large-scale mineral resources in Africa and South America. Concordia’s 2012 focus is on generating a NI 43-101 standard resources on its Kerboulé gold project in Burkina Faso and its Providencia silver mine in northwestern Argentina.
On September 6th, 2011 Concordia announced it’s acquisition of Swala Resources. Swala brings to Concordia an extensive exploration portfolio in the resource endowed regions of Burkina Faso, Gabon, the Democratic Republic of Congo (the “DRC”), Zimbabwe and Mozambique with a land package totaling over 12,400 km2, as well as an experienced management team and board of directors with extensive expertise in Africa. On December 23rd, 2011, the shareholders and other securities holders of Swala Resources Inc. (“Swala”) voted unanimously in favor of the acquisition of Swala by Concordia. This vote was a condition for the Definitive Agreement between Concordia and Swala that was signed on 20 October 2011. Subject to receipt of regulatory and court approval we anticipate that the transaction will be completed in early January.
A New Model For Managing Risk
Meryllion Minerals Corporation, a wholly-owned subsidiary, was created by the Company to undertake exploration programs in, and to acquire an interest in, South American properties, with an emphasis on Argentina, Brazil and Peru.
Concordia’s management believes that Meryllion Minerals can acquire and effectively manage a number of earlier stage exploration projects in South America. This approach effectively increases the Company’s exposure to opportunity and success within the region while managing the risks associated with exploration.