https://www.miningweekly.com

Samco Gold to sell all shares in Argentina subsidiary

21st November 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JOHANNESBURG (miningweekly.com) – TSX-V-listed Samco Gold sold its shares in its wholly owned Argentine subsidiary 5R to certain shareholders of the company in exchange for the return for cancellation of 18.450-million common shares in Samco’s capital.

5R is the registered titleholder of the El Dorado Monserrat properties in Santa Cruz, Argentina, where Samco retains a 1.5% net smelter return royalty.

As additional consideration for the 5R shares, all employment-related Argentina-based lawsuits initiated against Samco by certain of the shareholders participating in the subject transaction have been withdrawn, and Samco and its shareholders released each other from all claims.

As a result of the transaction, Samco will have 46.626-million common shares outstanding on a non-diluted basis.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ZF Aftermarket
ZF Aftermarket

ZF Aftermarket is the after-sales division of the world-renowned German ZF group, a global leader in mobility technology.

VISIT SHOWROOM 
Vikela Aluvin (Pty) Ltd
Vikela Aluvin (Pty) Ltd

Complete range of security sealing solutions including security seals bags and labels.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.047 0.835s - 110pq - 2rq
Subscribe Now