Pan American`s Pico Machay (Peru) property - early stageAs previously note, this could also be 1 of the 4 properties for Kootenay to select from. It has production potential also, though not quite as near-term as La Bolsa. It is also not in Mexico.
A bit of recent history.
It came over to Pan American with the acquisition of Aquiline.
Pan American tried selling it to Treasury Metals (I think the same team that developed Pico Machay previously). The acquisition accounement was issued May 18, 2011. Pan American was charging US$21 million cash and issuance of 11.5 million Treasury Metals common shares. Treasury Metals was unable to fund the acquisition price. As such, the deal was cancelled on November 7, 2011.
However, prior to the cancellation, Treasury had plans to fast track the project into production, as noted on their May 18/11 NR:
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Near-term production potential, as a conventional low cost, low stripping ratio, run-of-mine heap leach operation with low capital investment required;
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Significant potential to increase the current resource which includes Measured and Indicated of 270,000 ounces (Measured 140,000 and Indicated 130,000) and Inferred Resource of 450,000 ounces (using 0.30 g/t gold cut-off);
To date, the majority of drilling has been undertaken to define the main deposit area, with limited testing of possible resource extensions along strike and at depth and has nine high-priority exploration targets identified. In a June 20/11 article, Treasury Metals talked a bit more about their aggressive production plans for the property.
Their objective was to start mine contruction by April 2012 and realize gold production in 2013.
At June 20/11 they still had to complete the EIA and were planning on completing it in Q4/11.
The article also talked about a 5 year agreement with the local farming community - 900 families. Given that it is now 2016, that agreement has expired unless Pan American has renewed it. These agreements are typically renewed when expiry dates come up, if both sides are comfortable with the deal. Usually, the locals are interested in the mine starting up if unemployment is high and if it means the mine will create lots of jobs for the locals.
Here is Treasury Metals initial May 18/11 NR:
https://www.treasurymetals.com/s/press_releases.asp?ReportID=608973 Here is the June 20/11 article:
https://www.minerandina.com/en/pico-machay-may-start-production-in-2013/