Arian Silver Corporation shares surge on plant acquisition
Arian Silver Corporation's shares rocketed Friday as the mining company announced a deal to acquire a processing plant in Mexico to increase capacity.
Arian Silver Corporation's shares rocketed Friday as the mining company announced a deal to acquire a processing plant in Mexico to increase capacity.
The explorer signed a provisional agreement with Sandy Hill, a company incorporated in the British Virgin Islands, to buy a plant with a capacity to treat up to 1,500 tonnes per day of silver-lead-zinc ore.
Arian will pay an initial $0.1m to secure a 120-day due diligence period to confirm the El Bote Mill is still suitable. The mill has a past history of treating run of mine ore from Arian's San Jose project.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The final purchase price amounts to $3.12m, subject to results.
"I am very pleased to announce this important step forward towards achieving our stated intention of becoming a more significant silver producer from our San Jose project," said Chief Executive Officer of Arian, Jim Williams.
"We have already demonstrated that we have the silver, lead and zinc resources to support an expanded operation at San Jose and acquisition of this larger processing plant can only accelerate this aim."
He said on completion of the acquisition, the EL Bote Mill will be disassembled and relocated to an already permitted 24 hectare site on the eastern side of the San Jose Property.
RD
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry