TSX-V-listed Southern Silver Exploration has executed an agreement to buy Electrum Global Holdings’ 60% indirect interest in the Cerro Las Minitas (CLM) project, in Durango, Mexico, for $15-million.
The cash and stock transaction will increase Southern Silver’s working interest in the project from 40% to 100%, giving it full ownership of a “premier” polymetallic deposit.
CLM has an indicated resource of 134-million silver-equivalent ounces and inferred resources of 138-million silver-equivalent ounces.
The transaction, Southern Silver says, makes the company a more attractive takeover target.