Mineros to Acquire Yamana Gold’s Gualcamayo Mine, Argentina
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Yamana Gold has entered into a definitive purchase agreement to sell 100 percent of its interest in the Gualcamayo mine located in San Juan Province, Argentina to Mineros S.A.
Separately, the company has agreed to grant Mineros an option to acquire up to a 51 percent interest in the La Pepa project, located in the Maricunga gold belt, Chile, over an earn in period of four years, and then the remaining 49 percent interest pursuant to a call option.
During the option term, Mineros will act as operator and nominees of Mineros and Yamana will serve on a technical committee. The parties expect to sign a shareholders’ agreement that will set forth the parties’ ownership, voting and other rights in a Chilean joint venture company that will be formed to own the La Pepa project.
As part of discussions, the company evaluated Mineros’ work plans that cumulatively total $20 million and are expected to advance the La Pepa project meaningfully, including but not limited to working towards the completion of a National Instrument No. 43-101 compliant technical report. The work plan is expected to provide more certainty to the development potential of the project in the medium term and the company expects the option agreement to surface considerable value for the company’s 49 percent interest, whether or not Mineros exercises its final call option.
About Mineros
Headquartered in Medellin, Mineros is a Colombia-based Latin American gold producer with operations in Colombia and Nicaragua. In Colombia, it has produced gold from the El Bagre alluvial operations in Antioquia for more than forty years, and more recently, from the La Ye underground mine. In Nicaragua, it produces gold from the Bonanza mine in the North Caribbean Coast Autonomous Region that it acquired in 2013, and through innovative agreements with artisanal miners. Mineros’ strategic vision is to expand its operational and project footprint in the Americas.
To stop by Mineros’ website, CLICK HERE
About Yamana Gold
Yamana is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions throughout the Americas including Canada, Brazil, Chile and Argentina. Yamana plans to continue to build on this base through existing operating mine expansions, throughput increases, development of new mines, the advancement of its exploration properties and, at times, by targeting other gold consolidation opportunities with a primary focus in the Americas.
To stop by Yamana Gold’s website, CLICK HERE
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