Southern Silver’s Due Diligence Completed with Freeport-McMoRan Exploration Corporation

 Southern Silver Exploration Corp. (TSXV:SSV,FWB:SEG) announced that Freeport-McMoRan Exploration Corporation has completed its due diligence under an Earn-In Agreement that is related to the Cerro Las Minitas project in Durango, Mexico. The Earn-in agreement that the Company entered into granted Freeport the right to earn an indirect 70% interest in the Cerro Las Minitas property by making staged purchase payments and funding exploration and development expenditures of $25 million on the property.

As quoted in the press release:

The agreement was subject to due diligence review, which has been satisfied and the agreement is now operative. Freeport has paid the Company an initial USD$ 918,000 which has been utilized to pay an option payment to the Optionor of the property. To keep the Agreement operative, Freeport must pay to the Company $600,000 by January 2, 2013.

Click here to read the Southern Silver Exploration Corp. (TSXV:SSV,FWB:SEG) press release

See this press release on Marketwire
Click here to see the Southern Silver Exploration Corp. (TSXV:SSV,FWB:SEG) profile

Get the Latest Silver Investing Stock Information

Get the latest information about companies associated with Silver Investing delivered directly to your inbox.

Silver $0-15m
Silver $15-50m
Silver $250m+
Silver $50-250m

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Get Our Expert Guide to Silver Investing FREE!

Download this FREE Special Report, When Will Silver Go Up: Is the Highest Price of Silver Still to Come?  

Leave a Reply