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EV Resources Limited (ASX: EVR) has reached agreement with TSXV-listed Daura Gold Corp (“DGC”) for the sale of its 100% owned Yanamina Gold and Silver project (“the Project”) in Ancash State, Peru, for a total of US$6 million.
The Project was originally acquired in late 2019 for a consideration of US$100,000, a series of deferred cash payments on milestones and a 1.0% net smelter royalty on all metal production above 200,000 ounces of gold.
The sale follows a detailed review undertaken by EVR. In October 2024, the EVR board announced it was reviewing the project against a backdrop of substantially improved gold and silver prices, and approaches from prospective buyers and expressions of community support. (See EVR’s ASX Announcement of 28th Oct 2024).
The transaction requires completion of certain milestones in relation to the Project, as outlined in the attached press release. Once completed, the transaction has the potential to add materially to the cash position of the company whilst also providing the Company with an option to maintain its exposure to gold without requiring additional funding.
For further information including the terms of the transaction, please use the links below to read the ASX announcement.
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