Timmins Gold has agreed to buy the complete
process plant and select auxiliary
equipment used in the operation of
Goldcorp’s El Sauzal mine in Chihuahua,
Mexico for relocation to Timmins’ Ana
Paula project, currently being developed
in Guerrero, Mexico. Total purchase price
is C$8 million. Closing of the transaction
is subject to, among other things, completion
of a C$6 million investment by
Goldcorp in Timmins Gold by way of a
non-brokered private placement.
The El Sauzal mine was operational
until December 2014, when Goldcorp
began mine-closure activities. The plant
has a nominal 6,000-mt/d milling and
processing capacity, including a cyanide
circuit and a carbon-in-pulp circuit.
Timmins acquired the Paula Ana project
when it acquired Newstrike Capital
in a transaction that closed in late May.
As featured in Womp 2015 Vol 11 - www.womp-int.com