ValOre Metals plans to consolidate a nearly 1,000 sq. km precious metals district in Ceará, Brazil, through the acquisition of South Atlantic Gold for 38.5 million shares. CEO Jim Paterson emphasizes the importance of merging the Pedra Branca projects due to their similarities. The company is actively advancing its portfolio in platinum-group metals, as noted during the recent PDAC show.
ValOre Metals Corporation (TSXV: VO) is poised to establish a substantial precious metals district covering nearly 1,000 square kilometers in the Ceará state of Brazil. This initiative was highlighted by CEO Jim Paterson, who recently announced a strategic agreement. On February 14, the company signed a letter of intent to acquire all common shares of South Atlantic Gold, in exchange for 38.5 million shares valued at approximately $2.7 million USD (or $1.9 million).
The proposed acquisition will merge two adjacent Pedra Branca projects, both of which share similar geological and infrastructural characteristics, as well as community relationships. CEO Paterson remarked, “Bringing together these two projects is long overdue.” His comments were made during the recent PDAC conference held in Toronto. He further indicated the company’s ambition by noting, “I’m juggling four deals right now,” reflecting the intense focus on maximizing the value of platinum-group metals in Brazil.
View the complete interview with Henry Lazenby, the western editor of The Northern Miner, to gain further insights into the company’s vision and operations. It is noteworthy that joint venture videos are sponsored content under the auspices of The Northern Miner.
In summary, ValOre Metals is actively pursuing the consolidation of a significant precious metals district in Brazil’s Ceará state through the acquisition of South Atlantic Gold. This strategic move will integrate two promising projects and is part of a broader initiative to enhance the company’s portfolio in platinum-group metals. CEO Jim Paterson’s commitment to this endeavor is evident in his acknowledgment of multiple ongoing deals aimed at unlocking substantial value in this sector.
Original Source: www.northernminer.com
