Quaterra Provides Update on Water Rights
Retrieved on:
Monday, July 26, 2021
Prior to the notice, the Company believed it held a total of seven water rights permits providing for usage of approximately 6,014 acre-feet of water annually for mining and milling purposes in Yerington, Nevada.
Key Points:
- Prior to the notice, the Company believed it held a total of seven water rights permits providing for usage of approximately 6,014 acre-feet of water annually for mining and milling purposes in Yerington, Nevada.
- The basis for not granting a renewal of the permits included increased demand on the available water from other users, and non-use of the water by the Company for mining and milling purposes since 2011.
- The Company is considering the implications of the State notice on its ongoing advancement of the MacArthur copper oxide project, and on the prior sales of a portion of the permitted water rights.
- Quaterra Resources Inc. is a copper-gold exploration company focused on projects with the potential to host large-scale mineral deposits attractive to major mining companies.