Nicaragua: Magma Energy and Ram Power jointly awarded 2 concessions
Magma Energy Corp and Ram Power Corp.'s wholly owned subsidiary, Polaris Geothermal Inc. (PGI), have jointly won an international bid for two geothermal concessions, at Volcan Mombacho and Caldera de Apoyo.
A release of today talks about that “Magma Energy Corp (TSX:MXY) and Ram Power Corp.’s wholly owned subsidiary, Polaris Geothermal Inc. (PGI), has jointly won an international bid for two geothermal concessions.
The “Volcan Mombacho” and” Caldera de Apoyo” in Nicaragua are the two concessions that were awarded to these companies.
For future exploration of the concessions PGI will be the operator and each company will contribute equally to the project costs. The Caldera de Apoyo concession is 10 km south of Masaya and 10 km west of the colonial town of Granada. The total area for each of the exploration concessions is 100 km2.”
Source: Transworld News