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The latest update is out from Pacific American Holdings Ltd. ( (AU:AVM) ).
Advance Metals Limited has announced a significant acquisition in the mining sector, securing the right to earn a 100% interest in the Guadalupe y Calvo gold-silver project in Chihuahua, Mexico. This acquisition positions Advance Metals as a major player in the region, with an endowment of over 100 million ounces of silver-equivalent across three projects. The project, located in the prolific Sierra Madre Volcanic Belt, has a rich history of gold and silver mining and offers substantial exploration potential. The company plans to leverage existing infrastructure and expertise to expedite exploration and development, aiming for rapid growth in its portfolio. The acquisition agreement involves a structured earn-in over four years, with a total investment of $4 million, including cash, shares, and exploration expenditure.
More about Pacific American Holdings Ltd.
Average Trading Volume: 4,521,393
Technical Sentiment Signal: Sell
Current Market Cap: A$11.66M
Find detailed analytics on AVM stock on TipRanks’ Stock Analysis page.