Muri Brasil Ventures Incorporated has announced that it is no longer pursuing its geographical and geophysical survey in the New River area under the PGGS granted by the Guyana Geology and Mines Commission.

According to a press release, the company made a decision to pull out on December 30, 2013.

The company said that “although the process was legal and transparent, this decision is due to the misinformation, prejudice and hostility to this proposed survey by persons and agencies which are fostering an adverse investment climate in Guyana.”

It thanked everyone who supported this project and “who are in support of the development of Guyana.”