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Starcore International Mines Ltd T.SAM

Alternate Symbol(s):  SHVLF

Starcore International Mines Ltd. is a Canada-based company, which is engaged in exploring, extracting, and processing gold and silver. The Company through its wholly owned subsidiary, Compania Minera Pena de Bernal, S.A. de C.V. (Bernal), which owns the San Martin mine in Queretaro, Mexico. It is also engaged in acquiring mining related operating assets and exploration assets in North America. Its San Martin mine is located approximately 50 kilometers (km) east of the City of Queretaro, Mexico, and consists of mining concessions covering approximately 13,077 hectares (ha), which includes seven underground mining units and four units under exploration. Its Ajax Molybdenum property, approximately 1,718 hectares in size, hosts the Ajax Porphyry Molybdenum Deposit. Its Opodepe project consists of the Teocuitla and El Creston properties. Its El Creston molybdenum property is located in the State of Sonora, Mexico. Its Toiyabe Gold Project is located in Lander County, Nevada, United States.


TSX:SAM - Post by User

Post by onetimeron Mar 01, 2021 9:55am
151 Views
Post# 32684481

selling of an optioned property for almost $1million

selling of an optioned property for almost $1millionand reducing costs. 

As consideration for the transfer of Starcore's option to acquire the Project, IM will make cash and share payments to Starcore in the following amounts:

  • US$150,000 in cash to be paid upon closing of the Transaction.
  • 4,100,000 common shares in the capital of IM (each, a "Common Share") to be issued upon closing of the Transaction.
    • The Common Shares issued to the Seller will be subject to a contractual escrow period of twelve (12) months following the date of issuance, with 25% being released every three (3) months, with the first release occurring no later than 3 months after the closing of the Transaction.
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