Adventus Mining And Salazar Resources Secure Us$235.5 Million With Wheaton Precious Metals And Trafigura To Construct The Curipamba Copper Project
Amount Raised
$236 Million
Description
Adventus Mining Corporation ("Adventus Mining") (TSXV: ADZN) (OTCQX: ADVZF) and Salazar Resources Limited ("Salazar") (TSXV: SRL) (OTCQX: SRLZF) (collectively the "Participants") are pleased to announce that Alliance Metals International ("AMI"), a wholly-owned subsidiary of the Participants' joint venture company Salazar Holdings Ltd., has, together with Adventus Mining, entered into a definitive Precious Metals Purchase Agreement (the "PMPA") with Wheaton Precious Metals International Ltd., a wholly-owned subsidiary of Wheaton Precious Metals Corp. ( "Wheaton") in respect of the Curipamba copper project in central Ecuador (the "Curipamba Project"). Additionally, Adventus Mining has entered into a binding engagement for an Offtake Financing Agreement (the "OFA") with Trafigura Pte Ltd ("Trafigura") in respect of the Curipamba Project. A detailed feasibility study on the Curipamba Project, which focuses on the development of the shallow and high-grade El Domo deposit, was completed in late 2021 (the "Feasibility Study")