Tornado Gold International Corporation (OTCBB:TOGI) announced that a preliminary agreement has been reached with Allied Nevada Gold. The Company will be relieved of its joint venture obligations respecting 13 properties under a letter agreement signed between the Company and Allied. Under the agreement, the Company will continue to work with Allied in a joint venture on two of the most prospective properties, the Illipah and NT Green Properties for further exploration. These two properties join the Jack Creek Property and together constitute the three most prospective properties in the Company’s portfolio. Tornado will concentrate its efforts on these three properties over the next year and expects to drill two of them before year’s end.
Bookmark 1000 Penny Stocks For Penny Stocks In Play