Tarachi Gold announces the sale of its Magistral project
Published by Joe Toft,
Editorial Assistant
Global Mining Review,
Upon closing the transaction proposed in the letter agreement, Tarachi will transfer 100% ownership of its TGMEX Silver S.A. de C.V., which owns all of the company’s assets related to the Magistral project, to Atocha. In exchange, Atocha will make cash payments of approximately US$5 700 000 (approximately CAN$7.6 million).
Cameron Tymstra, Tarachi President and CEO, commented:
“This transaction represents an opportunity for Tarachi to convert our interest in the Magistral project to hard dollars at a strong valuation.”
“It has been a challenging year for the junior gold sector and difficult to raise money through traditional means for project development, particularly for assets with shorter mine lives such as the Magistral project. We are excited to be moving forward following the close of the transaction with a strong cash position which will provide us with the flexibility to pursue other gold assets in North America with superior value-creation potential.”
Read the article online at: https://www.globalminingreview.com/mining/30012023/tarachi-gold-announces-the-sale-of-its-magistral-project/
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