The Argentine company Central Puerto, whose asset portfolio is focused on the generation of electricity, will enter the Canadian mining company AbraSilver with the purchase of 4% of its Actionsfor a total of 10 million Canadian dollars (US$7.3 million).
In a statement sent this Monday to the Argentine markets, Central Puerto, whose shares are listed on the New York and Buenos Aires stock exchanges, reported that, through its subsidiary Proenersigned a share subscription contract that grants it a right to participate in 4% of the share capital of AbraSilver.
The mining company, whose shares are listed on the Canadian Stock Exchange, has among its main assets the Diablillos silver and gold project, located in northwest Argentina.
Central Puerto said it was “confident that this acquisition represents a great opportunity for expansion and diversification” of their activity.
For its part, AbraSilver assured in a statement that, in addition to the agreement with Central Portsigned one with the Canadian mining company Kinross Gold Corporation.
“Kinross and Central Puerto entered into a subscription agreement with AbraSilver under which each will invest 10 million Canadian dollars, which will generate total gross revenues of 20 million Canadian dollars for the company,” the statement specifies.
Besides, AbraSilver and Kinross agreed to form a “regional association” to jointly explore and acquire new projects in Argentina focused on silver, gold and copper.
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Source: Gestion
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