Silver Standard Announces Transaction on Diablillos and M-18 Projects

Silver Standard Resources (NASDAQ: SSRI) (TSX: SSO) has entered into a definitive agreement with Huayra Minerals Corporation to advance its Diablillos and M-18 projects, located in Argentina.
According to the press release:

Silver Standard will maintain a 19.9% equity interest in Huayra and nominate one member to the Board of Directors of Huayra.
Paul Benson, President and CEO of Silver Standard said, “This transaction demonstrates our continued focus on maximizing the value of our portfolio of projects by partnering with an Argentina-focused company who can accelerate exploration and development at Diablillos and M-18. The transaction allows Silver Standard to support the success of Huayra and the advancement of the projects.”
Completion of the transaction is subject to customary closing conditions. Silver Standard expects the transaction to close in November 2016.

Click here for the full press release.