https://www.miningweekly.com
Exploration|Mining|PROJECT
Exploration|Mining|PROJECT
exploration|mining|project

Silver X no longer buying Revenue mine

22nd May 2023

By: Creamer Media Reporter

     

Font size: - +

Vancouver-based Silver X Mining said on Friday that it would no longer acquire the Revenue-Virginius mine, in Colorado, out of receivership.

Silver X in April announced it would buy the asset from Alliance Management for $4.5-million. The company viewed the advanced-stage exploration project as a low-cost opportunity in the US.

“We have worked diligently on creating a plan for the acquisition of the Revenue mine that would generate value for all stakeholders involved,” stated Silver X president and CEO José García.

“However, there are circumstances beyond our control that have made it difficult to move forward. At this time, we are not willing to contribute further funds to the receivership process as we are not confident in the process and must ensure continued success of our core asset in Peru.

“We still believe in the viability of the Revenue mine and remain open to dialogue with local stakeholders in Ouray, Colorado, to find a mutually agreeable agreement on which to move forward on.”

Silver X believes the district has an unparalleled geological setting and remains interested in the acquisition of the assets. Silver X will continue to explore other viable options to move forward with the acquisition.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

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:0.132 0.171s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: