- Patagonia Gold Corp. (TSXV:PGDC) has closed a transaction to reacquire the COSE property from Pan American Silver (TSX:PAAS).
- The agreement sees Patagonia Gold assume any liabilities associated with COSE and the remaining closure costs, primarily related to ongoing environmental monitoring
- The reacquisition of the COSE property marks a significant milestone for Patagonia Gold as it positions itself for future growth and expansion in the highly prospective El Tranquilo concession block
- Patagonia Gold Corp. (TSXV:PGDC) opened trading at $0.025 per share and Pan American Silver stock (TSX:PAAS) opened trading at C$27.74 per share
In a move aimed at consolidating its position in the El Tranquilo concession block, Patagonia Gold Corp. (TSXV:PGDC) has closed a transaction to reacquire the COSE property from Pan American Silver (TSX:PAAS).
The agreement, which was signed between the two entities, sees Patagonia Gold assume any liabilities associated with COSE and the remaining closure costs, primarily related to ongoing environmental monitoring.
The COSE property, previously under the ownership of Pan American Silver, was closed by the latter in 2022. Patagonia Gold Corp.’s decision to reacquire COSE underscores its commitment to strengthening its presence in the region and leveraging the potential of the El Tranquilo concession block.
The El Tranquilo concession block is a key asset for Patagonia Gold, encompassing its Cap Oeste project along with several other promising prospects and mineral occurrences. With the reacquisition of COSE, the company now solidifies its control over this strategic area, which comprises 26 individual concessions covering a total area of 662.55 square km.
The move is expected to provide Patagonia with enhanced operational flexibility and control over its mining activities in the region. By consolidating its holdings in the El Tranquilo concession block, the company aims to streamline its operations and capitalize on the untapped potential of the area.
The reacquisition of the COSE property marks a significant milestone for Patagonia Gold as it positions itself for future growth and expansion in the highly prospective El Tranquilo concession block.
Patagonia Gold is a South America-focused mining company developing gold and silver projects in the Patagonia region of Argentina. It has mineral rights to over 430 properties in several provinces of Argentina and Chile.
Pan American Silver has been producing and exploring for precious metals in the Americas for nearly three decades. It operates silver and gold mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile and Brazil, and maintains interests in numerous exploration and development projects.
Patagonia Gold Corp. (TSXV:PGDC) opened trading at $0.025 per share and Pan American Silver stock (TSX:PAAS) opened trading at C$27.74 per share.
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