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Goldgroup Mining ( (TSE:GGA) ) just unveiled an update.
Goldgroup Mining Inc. has acquired 52.7% of the creditors’ rights in Molimentales del Noroeste’s restructuring proceeding, positioning itself to potentially gain ownership of the San Francisco Mine in Sonora, Mexico. This acquisition aligns with Goldgroup’s strategy to become a leading Mexican-focused mining company, although it faces challenges such as obtaining necessary approvals and settling outstanding liabilities to secure control of the mine.
More about Goldgroup Mining
Goldgroup is a Canadian-based mining company with significant gold assets in Mexico, including the Cerro Prieto heap-leach gold mine and the Pinos underground gold development project. The company is focused on increasing production and resources through optimization and exploration programs, and is led by a team with extensive expertise in mine development and corporate finance.
Average Trading Volume: 177,063
Technical Sentiment Signal: Buy
Current Market Cap: C$295.2M
Learn more about GGA stock on TipRanks’ Stock Analysis page.