ABOT Mining Renegotiates And Reduces Its Exploration Expenditure Commitments On Aztlan 8B From $450,000 To $100,000
WOODLAND HILLS, Calif., Jan. 6, 2013 /PRNewswire/ -- ABOT Mining (Pink Sheets: ABOT.pk) is pleased to announce that it has favorably renegotiated its exploration expenditure commitments on Aztlan 8B (the "Project") from $450,000 to $100,000 while maintaining its equity interest option at 50% in the Project. This addendum is made valid as it is included in the original Option Agreement signed with Rising Star Mining on December 6, 2011.
The reduction of this contractual capital commitment by almost 78% will reduce our current liabilities and improve the balance sheet considerably. The Company expects to deploy its immediate capital in the production and expansion of its recently announced Silver Tailings Project.
About the CompanyABOT is a US based mining company engaged in discovering, acquiring, developing, producing, and marketing precious and semi-precious metal properties and is currently headquartered in Woodland Hills, California. ABOT plans to create long term shareholder value by implementing an aggressive exploration program, making new precious metals discoveries and developing mining properties with long-life and low cost operation.
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