Silvercorp Metals Closes Acquisition in Kyrgyzstan

MT Newswires Live

01/28

Silvercorp Metals (SVM) said late Tuesday it has closed the acquisition of Chaarat ZAAV CJSC with Chaarat Gold Holdings.

Silvercorp said it will proceed to convert ZAAV into a joint venture company with Kyrgyzaltyn, a subsidiary of the Kyrgyz Republic.

The firm said it will be the operator of the venture with a 70% interest, and Kyrgyzaltyn will hold a 30% free-carried interest.

ZAAV holds a 100% interest in the mining license hosting the Tulkubash/Kyzyltash gold projects and surrounding exploration licenses hosting the Karator and Ishakuld gold zones in the Tian Shan area, the Canadian mining company said.

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