Mid-tier precious metals mining company Edeavour Silver has concluded the sale of the El Cubo Mine in Guanajuato, Mexico to VanGold Mining for $15 million in cash and share payments plus up to $3 million in future contingent payments.
Edeavour Silver, which owns and operates three high-grade, underground, silver-gold mines in Mexico, is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.
Bradford Cooke, Endeavour CEO and Director, described the agreement as ‘a win-win deal’ for both companies.
“They are in the best position to create more value out of the El Cubo assets given their emerging El Pinguico project located very close to El Cubo, and we now become the largest shareholder of VanGold,” he continued.
“I look forward to supporting VanGold in their efforts to become the next junior silver-gold producer in Mexico!”
