{"id":1206985,"date":"2020-09-11T13:25:38","date_gmt":"2020-09-11T18:25:38","guid":{"rendered":"https:\/\/www.mining.com\/?p=1035386"},"modified":"2020-09-11T13:25:38","modified_gmt":"2020-09-11T18:25:38","slug":"argonaut-to-sell-mexico-development-project-for-30-million","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1206985","title":{"rendered":"Argonaut to sell Mexico development project for $30 million"},"content":{"rendered":"

Argonaut Gold (TSX: AR) has entered into a definitive agreement<\/a> to sell its Ana Paula gold development project in the Guerrero gold belt of Mexico.<\/p>\n

Total consideration includes a payment of $30 million on closing, as well as an additional C$10 million upon announcement of commencement of construction.<\/p>\n

\n
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Ana Paula contains an estimated 20.9 Mt of measured and indicated resources at 2.17 g\/t for 1.46 million contained gold ounces<\/p>\n<\/blockquote>\n<\/figure>\n

Argonaut will also retain a 1% net smelter return royalty on the project and hold a 9.9% stake in the acquiring company, which will be formed by a business combination between AP Mining — a private company registered in British Columbia — and capital pool company Pinehurst Capital II.<\/p>\n

Proceeds of this transaction will be used to support the development of Argonaut’s Magino gold project in Ontario, the company said.<\/p>\n

The Ana Paula property, comprising a 56,000-hectare land package within the Sierra Madre mountain range, was acquired by Argonaut through its merger with Alio Gold earlier this year<\/a>. <\/p>\n

The project contains an estimated 20.9 Mt of measured and indicated resources at 2.17 g\/t for 1.46 million contained gold ounces.<\/p>\n

Shares of Argonaut Gold rose 1.4% by 2 p.m. EDT Friday, capping the Nevada-based miner at a market value of C$806 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ana Paula project was previously acquired from Alio Gold.<\/p>\n","protected":false},"author":92,"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":[949,369],"tags":[43],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206985"}],"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\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1206985"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206985\/revisions"}],"predecessor-version":[{"id":1206986,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1206985\/revisions\/1206986"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1206985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1206985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1206985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}