{"id":1191752,"date":"2020-06-23T11:30:00","date_gmt":"2020-06-23T16:30:00","guid":{"rendered":"https:\/\/www.mining.com\/?p=1027777"},"modified":"2020-06-23T11:30:00","modified_gmt":"2020-06-23T16:30:00","slug":"first-majestic-silver-to-sell-mexicos-assets-to-apollo","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1191752","title":{"rendered":"First Majestic Silver to sell Mexico\u2019s assets to Apollo"},"content":{"rendered":"

First Majestic Silver (NYSE:AG) (TSX:FR) has inked a deal<\/a> with Apollo Gold (TSX-V: APGO) that would see the precious metal producer sell its Jalisco Group of properties in Mexico to the gold junior.<\/p>\n

As part of the agreement, Apollo has the option to pay First Majestic C$750,000 and issue shares to the senior silver producer in tranches over a period of three years.<\/p>\n

Apollo has also committed to exploration expenditure of at least C$1.25 million ($920K) on the Jalisco gold-silver prospective claims.<\/p>\n

While the letter of intent is non-binding, Apollo and First Majestic expect to enter into definitive agreement within three months.<\/p>\n

The news comes only days after the company signed a separate letter of intent with Silver Dollar Resources<\/a> (CSE: SLV) giving it the option to earn an initial 80% interest in La Joya property.<\/p>\n

Last month, the Vancouver-based major initiated an arbitration process against Mexico<\/a> under the North American Free Trade Agreement (NAFTA). Silver Majestic argues the tax authority has \u201cexhibited a total disregard for the applicable provisions of three separate double taxation treaties.\u201d<\/p>\n

It also said the agency had \u201cunlawfully opted to ignore\u201d an advanced pricing agreement, governing the tax on silver sales between 2010-2014 by the miner\u2019s subsidiary, Primero Empresa Minera. <\/p>\n

First Majestic\u2019s three producing mines and several projects are all located in Mexico, the world\u2019s top silver producer.<\/p>\n","protected":false},"excerpt":{"rendered":"

First Majestic intents to give Apollo the option to acquire its Jalisco Group of Properties in Mexico.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1191752"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1191752"}],"version-history":[{"count":7,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1191752\/revisions"}],"predecessor-version":[{"id":1191784,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1191752\/revisions\/1191784"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1191752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1191752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1191752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}