Palamina Expands Mining Assets with Strategic Acquisition

Palamina (TSE:PA) has released an update.

Palamina Corp has expanded its mining portfolio by acquiring Sociedad Minera Vicus Exploraciones S.A.C., including the Pluma copper silver project, from Aurania Resources Ltd., thus consolidating their Peruvian copper silver assets. The deal was sealed with Palamina issuing 350,000 of its common shares to Aurania and granting a 1% Net Smelter Return royalty, with an option for Palamina to buy back half. This strategic acquisition enhances Palamina’s flexibility in funding and advancing its copper silver and gold projects in Peru.

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