Mirasol Sells Joaquin Silver-Gold Project Interest for $60 Million

Mirasol Resources Ltd. (TSXV:MRZ) announced that it has sold its 49 percent interest in the Joaquin Silver-Gold Project, Argentina, to Coeur d’Alene Mines Corporation (NYSE:CDE,TSX:CDM) for $60 million.

As quoted in the press release:

Under the terms of the agreement, Mirasol will receive a total consideration of US$60 million, which includes a payment of approximately US$30 million in cash and a quantity of Coeur common shares valued at approximately US$30 million based on the ten trading day volume weighted average price prior to the date of Mirasol’s acceptance of Coeur’s offer, in return for Coeur acquiring Mirasol’s subsidiary which holds the Joaquin property.

Mirasol’s President and CEO, Mary Little, said:

Mirasol is delivering on its strategy of building value through making new discoveries in the areas where we explore.  In the case of Joaquin, our partner Coeur plans to carry forward while we continue to engage in discovery-oriented exploration programs in Latin America.  The proceeds of the deal will help sustain these efforts for the next several years.

To view the whole press release, click here.