Coeur Completes Sale of its La Preciosa Project
March 21, 2022 at 17:30 PM EDT
Coeur Mining, Inc. (“Coeur” or the “Company”) (NYSE: CDE) today announced that it has closed the sale of its La Preciosa silver project, which is located in the State of Durango, Mexico, to Avino Silver & Gold Mines Ltd. (“Avino”) (TSX/NYSE American: ASM) by way of the previously announced definitive agreement (the “Agreement”).
Pursuant to the Agreement, the transaction consideration includes:
In connection with the transaction, Coeur will be granted preemptive rights to maintain its pro rata interest in Avino and the right to appoint one director to Avino’s Board of Directors or a board observer so long as Coeur maintains a minimum ownership of 10% in Avino.
The sale of La Preciosa is consistent with the Company’s strategy of monetizing non-core assets and prioritizing high-return growth from investments in exploration and expansions at its North American assets including the Rochester POA 11 expansion in Nevada, which is expected to be completed mid-next year.
Coeur Mining, Inc. is a U.S.-based, well-diversified, growing precious metals producer with four wholly-owned operations: the Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska and the Wharf gold mine in South Dakota. In addition, The Company wholly-owns the Silvertip silver-zinc-lead development project in British Columbia and has interests in several precious metals exploration projects throughout North America.
Coeur Mining, Inc.