- Latin Metals (LMS) has entered into a binding option agreement with AngloGold Argentina Exploraciones S.A., a wholly owned subsidiary of AngloGold Ashanti Ltd
- Latin Metals granted to AngloGold the option to earn up to an 80 per cent interest in its three gold projects located in Salta Province, northwestern Argentina
- AngloGold has been granted the option to earn an initial 75 per cent interest in the projects by making cash payments to Latin Metals in the aggregate amount of US$2,575,000
- Also AngloGold will spend an aggregate amount of $10,000,000 on exploration expenditures related to the projects within five years of the commencement date
- Latin Metals is a mineral exploration company operating in South America
- Latin Metals Inc. was up 4.762 per cent, trading at $0.11 at 4.762 per cent
Latin Metals (LMS) has entered into a binding option agreement with AngloGold Argentina Exploraciones S.A., a subsidiary of AngloGold Ashanti Ltd.
The agreement will be effective as of June 2, 2022.
Latin Metals has granted AngloGold the option to earn up to an 80 per cent interest in the company’s Organullo, Ana Maria, and Trigal Gold projects located in Salta Province, northwestern Argentina.
“We are delighted to welcome an option partner like AngloGold Ashanti, which is the fourth largest gold producer globally, with operations across four continents,” noted Keith Henderson, President and CEO of Latin Metals.
“Securing high-quality, technically excellent, and financially capable partners is a very important part of our prospect generator model and we hope to conclude additional deals as we continue to market our project portfolio,” he added.
Under the terms of the option agreement, AngloGold has been granted the option to earn an initial 75 per cent interest in the projects by making cash payments to Latin Metals in the aggregate amount of US$2,575,000 and spending an aggregate amount of $10,000,000 on exploration expenditures related to the projects within five years of the commencement date.
Latin Metals is a mineral exploration company operating in South America.
Latin Metals Inc. was up 4.762 per cent, trading at $0.11 at 4.762 per cent.
