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Avino Silver & Gold Mines Ltd.(TSXV:ASM) announced a new joint venture agreement with Endeavour Silver Corp. Endeavour has the option to acquire up to a 75% interest in the Laberinto property.
As quoted in the press release:
Upon Endeavour acquiring its 75% interest, a joint venture will be formed, under which if any party does not contribute its proportionate share of costs, its participating interest will be diluted on a pro rata basis according to the contributions of all parties. If any party’s participating interest is reduced to 10% or less, then its interest will be automatically converted into a 2.5% net smelter returns royalty.
Click here to read the Avino Silver & Gold Mines Ltd. (TSXV:ASM) press release
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