G4G will not proceed with Argentinian geothermal projects
G4G Resources Ltd. will no longer be proceeding with the acquisition of an interest in the Valle del Cura, Tuzgle and Tocomar geothermal projects in Argentina.
“G4G Resources Ltd. (TSX VENTURE: GXG) will no longer be proceeding with the acquisition of an interest in the Valle del Cura, Tuzgle and Tocomar geothermal projects in Argentina.”, so the release by the company yesterday.
“G4G originally announced the proposed acquisition on February 16, 2010 and then subsequently announced amended terms of the acquisition on April 21, 2010. Under the terms of the acquisition agreement, G4G has notified the vendor that required approvals have not been received for the transaction.
G4G will now focus its attention on the development of iron sands properties in Guatemala, which was announced on May 10, 2010.”
Source: Company release via Marketwatch