Cerrado Gold acquires Manantial Espejo mine from Pan American Silver
PAAS•Cerrado Gold acquired the past-producing Manantial Espejo mine in Argentina from Pan American Silver for $20 million, with $10 million due at closing and $10 million deferred. Pan American will receive a 1.0% royalty on future production, and Cerrado plans a 40,000-metre exploration drill program in 2027.
1. Deal terms
Cerrado Gold acquired the Manantial Espejo mine in Santa Cruz, Argentina, from Pan American Silver for $20 million in cash. The deal calls for $10 million at closing and $10 million deferred. Pan American receives a 1.0% net smelter returns royalty on future production, while Cerrado assumes all historical, current and future liabilities of MTA.
2. Exploration plan
Cerrado plans a 40,000-metre exploration drill program in 2027.
