Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Trigon Metals has entered into a purchase agreement with Technomine Africa for the latter’s Silver Hill mine in Morocco.


In a statement, the two companies announced that Trigon Metals had signed a “definitive agreement” to purchase the mine, which is characterized by its high potential—including an estimated 100,000mt of contained copper or its equivalent along with silver ore. 


Under the agreement, Trigon will have a 100pc equity interest in the mine, but Technomine will retain its ownership.


Trigon will pay $500,000 ($363,438) in cash and one-year later, pay another $400,000 to increase its stake. The company will also issue common shares equal to $250,000.


Morocco will lift restrictions on non-essential gatherings and outings on June 10, at whch point Trigon will begin working at the site, the company said in its statement.


(US$0.73 = C$1)

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