New deal Vancouver-based Aftermath Silver has announced it has entered into a non-binding agreement to sell its 100 percent stake in the Cachinal De La Sierra silver-gold project in Chile's Antofagasta region to Honey Badger Silver.
“The proposed transaction includes an exclusivity period that ends on August 15, 2022. Aftermath Silver and Honey Badger are working diligently to finalize a definitive agreement on or before this date,” the Canadian business said in a statement.
Ralph Rushton, the president of Aftermath Silver, said that the company’s “priority is to advance the Berenguela silver-copper-manganese project in Peru, and the sale of Cachinal - which became non-core for us as our work at Berenguela progressed - represents the fastest way to potentially unlock value in the project for our shareholders. In addition to cash and share payments, we will receive production payments when commercial production starts and we will also retain an NSR."