Dundee Precious Metals Acquires Serbia-based Avala Resources
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Avala Resources Ltd. and Dundee Precious Metals Inc. have successfully completed the plan of arrangement under the Business Corporations Act (British Columbia) pursuant to which DPM, through a wholly-owned subsidiary (Acquisitionco), acquired all of the issued and outstanding common shares of Avala, other than the shares of Avala already owned by DPM, as part of an amalgamation of Avala and Acquisitionco.
“We are pleased with the completion of this transaction as it adds to our pipeline of potential future development assets and increases our optionality building on strengths in Eastern Europe,” said Rick Howes, president and CEO.
About Avala Resources Ltd.
Avala is a mineral exploration company focused on the exploration and development of gold and copper projects in Serbia. Avala’s key projects are the Timok Gold Project, the Tulare Project, and the Lenovac Project.
To stop by Avala’s website, CLICK HERE
About Dundee Precious Metals Inc.
DPM is a Canadian based, international gold mining company engaged in the acquisition, exploration, development, mining and processing of precious metals. The company’s principal operating assets include the Chelopech operation, which produces a copper concentrate containing gold and silver, located east of Sofia, Bulgaria; the Kapan operation, which produces a copper concentrate and a zinc concentrate, both containing gold and silver, located in southern Armenia; and the Tsumeb smelter, a concentrate processing facility located in Namibia. DPM also holds interests in a number of developing gold properties located in Bulgaria, Serbia, and northern Canada, including the Krumovgrad project and interests held through its ownership of Avala Resources Ltd., and its 11.8 percent interest in Sabina Gold & Silver Corp.
To stop by DPM’s website, CLICK HERE
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