Canada’s Great Panther sells Mexican offshoot

Deal finalised Canadian mining Great Panther has reported that it has closed the previously announced sale of the company’s Mexican offshoot Minera Mexicana El Rosario to Guanajuato Silver. The subsidiary which owns the Guanajuato mine complex, the Topia mine, and the El Horcón and Santa Rosa projects.


In a statement, Great Panther said that the consideration payable to the miner comprised some US$8 million of cash, and also additional cash of about US$1.35 million pursuant to a working capital adjustment, among others.


“Great Panther Mining is a precious metals producer focused on the operation of the Tucano Gold Mine in Brazil where the Company controls a land package covering nearly 200,000 hectares in the prospective Vila Nova Greenstone belt. Great Panther's aim is to create long-term stakeholder value through safe, sustainable production and reinvest into exploration to tap into the potential of the Tucano Gold Mine to replace resources, extend mine life and make new discoveries,” according to the statement.