Endeavour Silver Closes Sale of Mine for $40 Million

MT Newswires Live

01/16

Endeavour Silver (EXK) said late Thursday it closed the divestment of the Bolanitos silver and gold mine to Guanajuato Silver for $40 million.

The deal comprised $30 million in cash and the remaining $10 million in Guanajuato Silver common shares at $0.271 apiece, the company said.

Guanajuato Silver will also make two contingent payments to Endeavour of $5 million each, upon the production of two million and four million ounces of silver from the Bolanitos Mine, respectively, according to a statement.

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