Patagonia Gold has acquired the remaining land surface rights of its main gold and silver project through its wholly-owned subsidiary Minera Minamalu.
The area, which is known as El Tranquilo and covers 80 square kilometres in the Santa Cruz Province of Argentina, was purchased for £2.1m.
El Tranquilo also contains the bonanza grade gold and silver deposit, where an underground mining operation is in preparation to begin in the first quarter of 2012, together with numerous other highly prospective gold and silver areas.
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
Patagonia now has the land surface rights as well as the mineral rights over the whole gold and silver deposit.
The share price rose 3.8% to 47.75p by 14:30PM.
NR
-
Child benefit tax return rules are changing – what is the high income child benefit charge?High-earning parents will soon be spared the hassle of filing a tax return to pay back child benefit. We explain what’s changing and how the high income child benefit charge (HICBC) works
-
Palmer Luckey: the billionaire flame of the westProfile Palmer Luckey started Oculus, the virtual-reality headset business, and sold it to Facebook for $2bn. Now he’s set his sights on the arms race.
