Adventus Mining And Salazar Resources Secure Us$235.5 Million With Wheaton Precious Metals And Trafigura To Construct The Curipamba Copper Project
Adventus Mining And Salazar Resources Secure Us$235.5 Million With Wheaton Precious Metals And Trafigura To Construct The Curipamba Copper Project
01/18/22, 7:15 PM
Location
torontoMoney raised
$236 million
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")
Company Info
Location
toronto, ontario, canada
Additional Info
Adventus Mining Corporation is an Ecuador-focused copper-gold exploration and development company. Adventus Mining is 75%-owner of the 215 km2 Curipamba copper project, which has a completed feasibility study on the shallow and high-grade El Domo deposit. In addition, Adventus Mining is engaged in a country-wide exploration alliance with its partner in Ecuador, which has incorporated the Pijili and Santiago copper-gold porphyry projects to date. Outside of Ecuador, Adventus Mining owns an exploration project portfolio in Ireland with South32 Limited as funding partner. Its strategic shareholders include Altius Minerals Corporation, Greenstone Resources LP, Wheaton Precious Metals Corp., and the Nobis Group of Ecuador. Adventus Mining is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ADZN and trades on the OTCQX under the symbol ADVZF.