Pan American Silver Announces the Sale of La Arena for US$245 Million Cash Upfront and US$50 Million Contingent Payment
Pan American Silver Corp. (PAAS)
Last pan american silver corp. earnings: 2/19 07:59 pm
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Source: Business Wire
retains a 1.5% gold net smelter return royalty for the La Arena II project VANCOUVER, British Columbia--(BUSINESS WIRE)--Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American") announces that it has agreed to sell its 100% interest in La Arena S.A. ("La Arena"), which owns the La Arena gold mine as well as the La Arena II project in Peru, to Jinteng (Singapore) Mining Pte. Ltd., a subsidiary of Zijin Mining Group Co., Ltd. (collectively, "Zijin") for US$245 million cash upfront and a US$50 million contingent payment."With the sale of La Arena, we continue to deliver on our strategy to optimize our portfolio, following the Yamana transaction, while maintaining future upside through the retention of royalties," said Michael Steinmann, President and Chief Executive Officer of Pan American. "Proceeds from the transaction will further strengthen our financial position and allow us to deliver on our capital allocation priorities of investing in high-quality assets, debt reduc
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PAAS
Earnings
- 5/8/24 - Beat
PAAS
Sec Filings
- 5/9/24 - Form 6-K
- 5/9/24 - Form 6-K
- 5/1/24 - Form 6-K
- PAAS's page on the SEC website