Feb 2, 2021

GR Silver Mining buys Marlin Gold Mining

Silver
Gold
Mexico
Acquisitions
Dominic Ellis
1 min
GR Silver Mining said the acquisition of Marlin Gold Mining will strengthen its position in the Mexico region
GR Silver Mining said the acquisition of Marlin Gold Mining will strengthen its position in the Mexico region...

GR Silver Mining has signed a definitive binding Share Purchase Agreement to buy Marlin Gold Mining from Mako, with the transaction expected to close by the end of March.

Marlin owns, among other assets, Oro Gold de Mexico. As consideration for all of the issued and outstanding shares of Marlin, GR Silver will pay CDN$50,000 to Mako and Oro Gold will grant Mako a 1% net smelter return royalty on the concessions owned by Oro Gold.  

GR Silver Mining President and CEO, Marcio Fonseca, said the acquisition will strengthen its position in this region and is consistent with its strategy "of controlling 100% of what we believe are the most important silver and gold assets" in the Rosario Mining District of Sinaloa in Mexico.

As part of the March 2020 acquisition of the Plomosas Silver Project from First Majestic Silver Corp., GR Silver Mining also acquired a package of three concessions (Rosario I, Rosario II, and Rosario IV) strategically located adjacent to the Rosario town.  

"GR Silver is the first company to achieve control of all these assets and unlock the opportunity for exploration potential and discoveries, towards developing the next generation of silver and gold mines. This acquisition supports our goal of delivering significant shareholder value through new discoveries," he said.

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Jun 29, 2021

Vale invests $150mn to extend life of Manitoba operations

Vale
Nickel
Manitoba
battery metals
2 min
Vale’s $150mn investment in operations at Thompson, Manitoba will extend mine life by 10 years

Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.

Global energy transition is boosting the market for nickel

The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.

“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.

“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”

Vale continues drilling program at Manitoba

Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.

“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.

“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”

The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history.  Mining of the Thompson orebody began in 1961.

“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.

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