Published: March 3, 2016 |

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Firma Holdings Corp.‘s subsidiary, American Metal Mining, S.A. de C.V., has purchased and taken control of the Magistral Del Oro tailings project, which is located in what is known as the “Golden Triangle” in Santa Maria Del Oro, Durango, Mexico.

The acquisition includes a 500 TPD Dynamic Cyanide counter current system plant. Construction of the plant was completed in 2013, for approximately $4.5 million. It is unencumbered, fully permitted, is production ready, and is in excellent condition. The Magistral project includes the exclusive rights to process approximately 1.2 million tonnes of mineralized mill tailings, grading an average of 2.06 gold per tonne (79,000 ounces of gold).

“We feel very fortunate to have secured this opportunity. With a project that has been advanced to the degree of Magistral, being fully permitted, with all the metallurgical work completed by a reputable firm, such as Kappes Cassiday, it is a very rare find for our company. Additionally, because of the way we were able to restructure various elements of the project, we have created a project that can be very attractive to a JV Partner or a direct funder. We believe the mining sector is looking for low cost production over exploration and we would attribute that to the interest from multiple groups that are actively engaged in due diligence and the desire to make an offer to partner with us in the production of Magistral. The ability for a project to be in production within a 120 days of funding, adds to interest and motivation to drive an attractive deal,” said Francis Biscan Jr., president of Firma Holdings.

“Cash flow will enable us to organically advance our other projects. In addition, it can position us to capitalize on the great opportunities that are beginning to present themselves in a beaten down sector. Magistral is one example of future potential opportunities, and the ability of our President of Mexico operations, Ramiro Trevizo, to find tremendous projects,” added Biscan.

“My vision is to use the cash flow from this project to advance the great possibilities we hold in our Don Roman and Picacho projects. As a result of the challenges and changes in the mining sector, over the last couple of years, I believe this project can position us to capitalize on some of the great opportunities that I am beginning to see in the market place,” said Ramiro Trevizo, president of Mexican operations for Firma Holdings.

About Firma Holdings
Firma currently holds three wholly owned subsidiaries, focused on; mining, technology, and development and production of food products.

To stop by Firma Holdings’ website, CLICK HERE

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