The latest announcement is out from Patagonia Gold ( (TSE:PGDC) ).
Patagonia Gold Corp. has entered into a binding option agreement with Newmont Corporation, allowing Newmont to acquire a 100% interest in Patagonia’s Tornado and Huracan gold and silver properties in Argentina. The agreement, which includes a six-year option period, involves cash payments totaling $1.5 million and a net smelter returns royalty based on future production. This strategic move aligns with Patagonia’s focus on developing its Calcatreu property and exploring joint ventures or potential disposals of non-strategic assets, potentially enhancing its operational focus and financial flexibility.
More about Patagonia Gold
Patagonia Gold Corp. is a publicly traded mining company focused on the exploration and development of gold and silver projects in the Patagonia region of Argentina. The company is listed on the TSX Venture Exchange and is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia holds mineral rights to over 415 properties in several provinces of Argentina, making it one of the largest landholders in the province of Santa Cruz.
YTD Price Performance: 33.33%
Average Trading Volume: 46,785
Technical Sentiment Signal: Sell
Current Market Cap: C$18.6M
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