Endeavor Silver secures lacy deposits
17.04.2012/XNUMX/XNUMX Vancouver - The Canadian precious metal producer wants to expand further. And to achieve this goal, the company recently acquired a very promising mine and an exploration project.
As it has recently become known, the company is acquiring two deposits of AuRico Gold. A corresponding final agreement has already been signed by both companies. Specifically, this is the Silver Gold El Cubo Mine in Guanajuato State, Mexico and the exploration project in Chiuahua State. And this should be well worth it for the Canadians. After all, it has at least the already producing mine in itself.
Lush deposits
Because in the first quarter of this year alone, the El Cubo Mine produced 209.440 troy ounces of silver and 4.543 troy ounces of gold. The proven and probable reserves in the deposit are 18,5 million troy ounces of silver and 322.000 troy ounces of gold. According to the latest estimates, the indicated resources are 8,3 million troy ounces of silver and 269.000 troy ounces of gold. In addition, there are inferred resources of 26,7 million troy ounces of silver and 548.000 troy ounces of gold. As the company further announced, the purchase price is up to 250 million dollars. According to the company, the company will soon be paying 200 millions of common shares and cash. Upon completion of the acquisition, Endeavor Silver will continue to pay cash to AuRico Gold for three years. In total, the total amount is up to 50 million dollars.
So the growth course of the company is slowly taking shape. The deposits in the mine which is already producing are likely to advance Canadians to reach their destination. Therefore, the company could earn good money on the view of a few years, which should also please the investors.
(Www.emfis.com)
