Auxico Resources Canada ( (TSE:AUAG) ) just unveiled an update.
Auxico Resources Canada Inc. has entered into an option agreement with Concordia Silver Company for the sale of its Mexican subsidiary, Auxico Resources S.A. de C.V. This move aligns with Auxico’s strategy to focus on its core assets and enhance its financial position by advancing its mineral projects in Colombia and Bolivia. The agreement allows Concordia Silver Company a 60-day option to acquire Auxico Mexico for $666,666, with the transaction contingent upon the reinstatement of a mining concession by Mexican authorities. This transaction is expected to streamline Auxico’s operations and strengthen its market positioning in the critical minerals sector.
More about Auxico Resources Canada
Auxico Resources Canada Inc. is a Canadian company founded in 2014 and based in Montreal. It is engaged in the acquisition, exploration, and development of mineral properties, particularly focusing on critical mineral projects in Colombia and Bolivia. The company trades on the Canadian Stock Exchange under the symbol AUAG.
YTD Price Performance: 40.0%
Technical Sentiment Signal: Strong Buy
Current Market Cap: $8.17M
See more insights into AUAG stock on TipRanks’ Stock Analysis page.