A recent agreement sets the stage for Treminco Resources (TSE) to sell its Silvana silver-lead-zinc mine and mill in Sandon, B.C.
The property consists of 100 crown grants, mineral claims, and a 125-ton-per-day mill.
Amcorp Industries agreed to pay Treminco $500,000 and 312,500 of its shares at 80 cents per share for a 100% interest in the assets. The agreement is still subject to Amcorp’s review and regulatory approval.
Treminco said the sale of the Silvana mine is in keeping with its objective of focusing on acquiring and developing larger reserves, either in or near production, “with potential to make a significant impact on the company.” The Silvana mine operated for eight months in 1993 before operations were suspended because of low base metal prices.
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