As of 9:45 a.m. EDT Monday, AbraSilver’s shares fell by 5.1% to C$0.37, still close to a 52-week high of C$0.42. The company has a market capitalization of C$209.3 million ($152.4m).
Upon closing, Kinross and Central Puerto will each own approximately 4% of AbraSilver’s equity capital, and will have standard anti-dilution rights to maintain their respective interests. Also, AbraSilver will consolidate its shares on a one-to-five basis following completion of the financing.
Through this transaction, the company is now well funded for a dual strategy to aggressively advance the Diablillos project towards a production decision, AbraSilver CEO John Miniotis said, adding that the company will gain access to the deep technical expertise in mineral exploration, mine development and power generation.
The project recently advanced to the pre-feasibility stage, with the technical report outlining a 13-year open-pit operation with…
