Latin Metals Inc. (TSX.V: LMS) (OTCQB: LMSQF) has finalized an amended agreement to acquire the remaining 29% interest in the Cerro Bayo and La Flora properties located in Argentina’s Santa Cruz Province. This strategic move grants Latin Metals 100% ownership of the Cerro Bayo Silver-Gold Project, a significant addition to its exploration assets. The agreement with Tres Cerros Exploraciones S.R.L. involves staged cash payments totaling US$400,000 through 2027, with TCE retaining a 0.75% NSR royalty, part of which Latin Metals can repurchase.
The Cerro Bayo project is notable for being fully permitted and drill-ready, positioning Latin Metals to expedite exploration activities without the delays often associated with regulatory approvals. This acquisition underscores the company’s commitment to expanding its footprint in mineral-rich regions, leveraging its prospect generator model to minimize risk while maximizing discovery potential. Latin Metals’ portfolio now includes 18 projects across Peru and Argentina, with partnerships from major mining companies such as AngloGold Ashanti and Moxico Resources.
This development is significant for investors and the mining sector, as it highlights Latin Metals’ ability to secure and advance high-value mineral assets. The Cerro Bayo project’s potential for silver and gold discoveries could contribute to the company’s growth and the broader mining industry’s supply chain. For more details on the agreement, visit https://ibn.fm/Io8zX.
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