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G4G withdraws from second batch of geothermal acquisitions in Argentina

8 Sep 2010

Canadian mineral exploration and development company G4G Resources has abandoned plans to acquire the Anetta group of geothermal properties in the Argentine province of Salta from Area Geofisica following its withdrawal from a deal to buy another set of geothermal projects in the region earlier this year.

The company said instead it will now focus its attention on the development of iron sands properties in Guatemala, a project direction that it announced in May.

The Anetta deal is the second group of geothermal acquisitions in Argentina that G4G Resources has stepped back from as in late July, it announced its decision not to acquire interests in a set of geothermal properties in Valle del Cura, Tuzgle and Tocomar in Argentina.

This deal had been agreed several months earlier in February.

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