Dutch Gold Resources (DGRI) has reached a definitive joint venture agreement with its partner in Nicaragua.
The agreement calls for DGRI to bring professional, technical and managerial resources to the Nicaragua mining project, located in Central America, as well as project financing.
The company has also announced that a previously announced bulk sampling programme and ore extraction work has been completed.
Dutch Gold Resources CEO Dan Hollis said the agreement enables the company to move forward with its partners.
"The company has completed the ore-gathering phase of its bulk-sampling programme and expects to begin analytical interpretation over the next three weeks, allowing the company to ship production equipment soon thereafter.
"We are operating within the timelines we initially set forth, to begin to increase production during the third quarter of this year," Hollis added.