ValOre Metals aims to consolidate a 1,000 sq. km precious metals district in Ceará, Brazil, by acquiring South Atlantic Gold. The acquisition, valued at approximately $2.7 million, combines two Pedra Branca projects with shared geological and community connections. CEO Jim Paterson highlights the urgency and potential of this merger while juggling several ongoing deals.
ValOre Metals, headquartered in Canada, aims to establish an extensive precious metals district in Brazil’s Ceará state, covering nearly 1,000 square kilometers. According to Jim Paterson, the company’s chairman and CEO, this ambitious plan follows the signing of a letter of intent on February 14, to acquire all common shares of South Atlantic Gold. In exchange for 38.5 million shares, valued at approximately $2.7 million, ValOre seeks to combine two adjacent Pedra Branca projects that share geological, infrastructural, and community relations proximity.
Jim Paterson emphasized the significance of this merger, stating that it is “long overdue.” He further remarked during his recent interview with The Northern Miner at the PDAC event in Toronto that he is currently managing multiple transactions, demonstrating the company’s active pursuit of unlocking platinum-group metals’ value in Brazil. This endeavor highlights ValOre’s commitment to expanding its influence in the precious metals sector in South America.
This venture’s success will be showcased in an interview with Henry Lazenby, the western editor of The Northern Miner, which can be viewed below. Please note that joint venture videos are sponsored content arranged with The Northern Miner.
ValOre Metals is making significant strides towards creating a consolidated precious metals district in Brazil’s Ceará state through its recent acquisition of South Atlantic Gold. This merger promises to enhance geological and infrastructural synergies between the two Pedra Branca projects. CEO Jim Paterson’s active management of multiple deals underscores the company’s strategic focus on maximizing the potential of platinum-group metals in the region. The developments will be detailed in an upcoming interview, showcasing the potential impacts of this venture.
Original Source: www.northernminer.com
