American Pacific secures 100% interest in Palmer VMS Project

American Pacific has publicly thanked Dowa for its collaborative approach to work at Palmer over the years.

Pursuant to the terms of the purchase agreement, Constantine North Inc., a wholly-owned subsidiary of American Pacific, has acquired Dowa’s interest in Constantine Mining LLC and Dowa has paid American Pacific USD$10 million in exchange for providing an affiliate of Dowa with an option to acquire up to 50% of the zinc concentrate produced for the initial year of production, and each subsequent year of production at the project, and the provision of certain indemnities in the purchase agreement. With the close of the acquisition of the Dowa Interest, American Pacific has a consolidated 100% interest in the project.

Warwick Smith, American Pacific’s CEO, comments:

“This transaction marks a pivotal moment for American Pacific. We’ve now obtained full ownership of a project with proven mineral resources and vast untapped regional discovery potential, while also securing substantial funding to ramp up exploration of key assets across our portfolio, paving the way for significant resource growth.”

Read the article online at: https://www.globalminingreview.com/exploration-development/03122024/american-pacific-secures-100-interest-in-palmer-vms-project/