The civil unrest that has enveloped Albania in recent weeks is taking its toll on foreign firms with investments there, including Nebex Resources (NBX-T), which has put all its operations on hold.
The company’s Albanian holdings include 11 copper deposits in the 400-sq.-km Mirdita concession. Recent drilling on the concession confirmed the presence of massive sulphides reported by the project’s former state-owned operator.
In a company statement, Chairman Eugene Setka says Nebex’s commitment to exploration in Albania remains strong.
“We believe the current conditions will stabilize and result in only relatively short-term delays. We plan to resume exploration activities in Albania at the earliest possible opportunity.”
Nebex is maintaining its office in the capital city, Tirana, though no Canadians are there, or in the field.
Meanwhile, Nebex has announced that its trading warrants, which are listed on the Toronto and Alberta stock exchanges and are exercisable at $1.20, were to have expired March 31.
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