(Energy Analytics Institute, 22.Nov.2024) — Golden Minerals Company closed on the sale of its Yoquivo gold-silver project located in Chihuahua State, Mexico.
The buyer, Advance Metals Limited, is an ASX-listed entity focused on the acquisition, discovery, and advancement of high-quality metals projects, Golden Minerals said 22 Nov. 2024 in an official statement.
Per the sales agreement revealed last month, AVM has purchased 100% of the Yoquivo Project from Minera de Cordilleras S. de R.L. de C.V., a wholly owned subsidiary of Golden Minerals, for total consideration of $570,000, which was paid in cash, plus value added tax (VAT).
Payment details
The purchase was completed as follows:
- A one-time, non-refundable cash payment of $20,000, plus VAT, for AVM to have the right to carry out due diligence for a seven-day exclusive period, beginning on 24 Oct. 2024.
- On 1 Nov. 2024, AVM made a $275,000 cash payment, plus VAT, to Golden.
- On 21 Nov. 2024, AVM made a final $275,000 cash payment, plus VAT, to Golden.
Golden Minerals will finalize the transfer of the Yoquivo concessions upon establishment of a Mexican subsidiary by AVM, Golden Minerals said in the statement.
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