Capella Minerals Ltd (TSXV: CMIL) (OTCQB: CMILF) (FRA: N7D2) and Austral Gold Ltd (ASX: AGD) (TSXV: AGLD) have announced the signing of a Share Purchase Agreement (“SPA”) with Unico Silver Ltd (ASX: USL) for the sale of their Sierra Blanca project in Santa Cruz Province, Argentina. Unico will acquire 100% of Sierra Blanca S.A., the subsidiary that owns the gold-silver project.

Capella Minerals Share Sale

Unico will pay for the acquisition with 5,000,000 ordinary USL shares. Presently, Capella holds a 45.31% interest, and Austral holds a 54.69% interest in Sierra Blanca S.A.

Eric Roth’s Statement

Eric Roth, Capella’s President and CEO, stated: “We are pleased to announce the sale of our Sierra Blanca project to Unico Silver. Their expertise and presence in Santa Cruz make them ideal for advancing the project. This sale aligns with our strategy of focusing on our Scandinavian assets.”

Closing Conditions

The transaction’s closure is contingent upon regulatory approvals from the ASX and TSXV Exchanges and Unico obtaining shareholder approval. Additionally, an assignment deed for an NSR on the Sierra Blanca project is required.

Capella’s Focus and Future

Capella Minerals Ltd is developing copper-gold projects in northern Finland and copper-cobalt projects in Norway. The company’s significant Finnish projects include Killero East, Killero West, and the Perho lithium-REE project.

The company is also working on closing the sale of its copper-cobalt projects in Norway to Polar Transition Minerals AS. The revised closing date is July 7, 2024.
Capella remains involved in the Canadian precious metals sector through its JV with Agnico Eagle Mines Ltd at the Domain Gold Project in Manitoba.

Disclaimer:
The content presented on this page has not been manually verified by our team. While we strive to ensure accuracy, we cannot guarantee the validity, completeness, or timeliness of the information provided. Always consult with appropriate professionals or sources before making any decisions based on this content.

Click here for more Company News