Salazar Resources Limited has expressed satisfaction over the announcement of Silvercorp Metals Inc.’s intended acquisition of Adventus Mining Corporation. Silvercorp’s proposal is set to value Adventus at C$200 million, a premium that consequently values Salazar’s El Domo – Curipamba project, due to their 25% ownership. Salazar envisages this transaction to accelerate El Domo’s journey from construction to commercial operation, with financial and technical support from Silvercorp, especially highlighting Silvercorp’s ESG credentials and their international experience. Fredy E. Salazar of Salazar recognises the benefits to shareholders, including fully funded construction to commercial operations, new capital for greenfield exploration, and maintenance of a transparent record with all project stakeholders. Salazar Resources, deeply ingrained in Ecuador’s mining sector, co-founded by the Salazar family, focuses on positive change and sustainable progress through discovery, exploration, and development in Ecuador. The company has interests in various projects throughout the region, with the support and development of local communities being one of its pillars. Salazar has pledged its support for the Silvercorp-Adventus transaction by entering into a Support Agreement with Silvercorp. Silvercorp, a Canadian mining firm, known for its successful and responsible mining practices, has a history of profitable operations and growth, with a strategic focus on free cash flow, organic growth, and value creation via mergers and acquisitions. This proposed transaction is subject to multiple conditions, including shareholder and court approvals, and is anticipated to close over the summer of 2024.

Mining, Precious Metals, Mergers and Acquisitions,Canada, Ecuador