In a press release issued to the international press, the board of directors of the Canadian mining company Great Panther Silver announced that it had reached an agreement and acquired on Sunday (23) the majority of the shares of the Australian mining company Beadell Resources, with all of the actions of the Tucano Mine, located in Amapá.

Great Panther Silver operates in the exploration of precious metals in the Guanajuato and Topia mines, located in Mexico. The company is also participating in the reactivation of exploration of the “Coricancha” mine in Peru. The acquisition, according to the company, is aimed at allowing the precious metals producing company to focus on growth in the Americas.

Beadell Resources operates the Tucano gold mine, in the municipality of Pedra Branca do Amapari, 183 kilometers from Macapá, which is being upgraded to produce approximately 3.5 million tonnes of ore. Under the terms of the agreement, Beadell shareholders will own a 38% stake in the company.

The transaction between the companies leaves Great in possession of areas with geographic diversity, three mines, an advanced project and significant exploration potential, in addition to attractive reclassification potential.

In the note, Great Panther President and CEO James Bannantine describes the potential of the acquired mine in Amapá.

“A considerable mine in Brazil with exceptional exploration potential. Great Panther provides the capital necessary to realize the substantial growth potential of Tucano’s resources in the short and long term and continue mine optimization initiatives. The combination of assets, capital and management provides a unique opportunity to unlock significant revaluation potential for the benefit of existing shareholders and Beadell shareholders, who will acquire a significant interest in Great Panther,” Bannantine wrote.

Although the mine was purchased eight years ago, operations only began in 2012 when the installation structures were completed, making it Brazil’s third largest gold exploration mine, according to the company. The mine has an area of ​​approximately 2,500 square kilometers.

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