Auxico Resources Canada to sell Mexican subsidiary to Concordia Silver Company

GlobalData

Fri, Apr 11, 2025, 7:04 AM 2 min read

Auxico Resources Canada has signed an enactment statement to merchantability its wholly owned Mexican subsidiary, Auxico Resources S.A. de C.V. (Auxico Mexico), to Concordia Silver Company (CSC), a privately-held mineral exploration company.

This determination aligns with Auxico's objectives to fortify its fiscal presumption and absorption connected its halfway assets.

Under the presumption of the enactment statement dated 27 March 2025, CSC has a 60-day model to implicit the acquisition of Auxico Mexico.

The full information for the merchantability is acceptable astatine $666,666 (C$923,756), which is structured to beryllium paid successful 2 instalments.

An archetypal outgo of $222,222 is owed upon the execution of a definitive stock acquisition agreement, which volition travel a owed diligence period.

The remaining $444,444 is contingent upon the afloat reinstatement of the Mineral de Zamora mining concession (Title No. 225182) by the Mexican Mining Authority.

Upon the closure of the deal, CSC volition inherit each the existing obligations tied to Auxico Mexico, including those related to the Zamora Property successful Sinaloa, Mexico.

The transaction volition alteration Auxico to further make its captious mineral projects successful Colombia and Bolivia.

Auxico's Minastyc Property successful Vichada, Colombia, spans 188ha and holds some mineral and aboveground rights. It lies successful a strategical captious minerals zone, with biology and small-scale mining permits secured done 2040.

Sampling revealed uncommon world elements, tin, tantalum, niobium and others, though nary drilling oregon metallurgical investigating has occurred.

Auxico's past-producing El Benton Mine successful Bolivia is located astir 200km from Santa Cruz successful Bolivia’s Ñuflo de Chávez state and covers 739ha.

In September 2023, Auxico entered into a memorandum of knowing to get an 85% involvement successful Empresa Minera El Benton, which owns the mining rubric and rights to the El Benton Mine and adjacent Monte Verde concessions successful Bolivia.