MiningNewsBreaks – Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) Completes Acquisition of Chaarat ZAAV in Kyrgyz Republic
Disseminated on behalf of Silvercorp Metals Inc. and includes paid advertisement Silvercorp Metals (TSX: SVM) (NYSE American: SVM) announced that it has completed the acquisition of Chaarat ZAAV CJSC pursuant to its previously disclosed share purchase agreement with Chaarat Gold Holdings Limited, following the Kyrgyz government’s issuance of a waiver of its statutory pre-emptive right and Silvercorp’s $92 million payment to Chaarat. As part of the transaction, Silvercorp will convert ZAAV into a joint venture company with Kyrgyzaltyn, a wholly owned subsidiary of the Kyrgyz Republic, with Silvercorp holding a 70% operating interest and Kyrgyzaltyn holding a 30% free-carried interest. The joint venture will apply to extend the mining license for the Tulkubash and Kyzyltash gold projects from June 25, 2032 to June…