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Pacific Bay Minerals ( (TSE:PBM) ) has issued an announcement.
Pacific Bay Minerals Ltd has signed a non-binding Letter of Intent with Appian Capital Advisory LLP to acquire the Pereira-Velho gold prospect in Alagoas State, Brazil. This acquisition encompasses 11 mineral claims over 14,596 hectares, where the geological potential and infrastructure access provide significant advantages for mining operations. The deal, pending a definitive agreement by January 31, 2025, involves a mix of cash payments and share issuance, positioning Pacific Bay to advance its strategic goals and unlock value for stakeholders. The project holds promising economic potential due to its mineralization characteristics, making it a pivotal development in the company’s growth trajectory.
More about Pacific Bay Minerals
Pacific Bay Minerals Ltd is a company operating in the mining industry, focusing on the exploration and development of mineral properties. The company primarily deals with gold and is engaged in strategic acquisitions to expand its market presence in promising mining jurisdictions.
YTD Price Performance: 36.00%
Average Trading Volume: 35,960
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$2.36M
For detailed information about PBM stock, go to TipRanks’ Stock Analysis page.
