Solitario Signs Letter of Intent for Pachuca Norte Silver-Gold Project
Solitario Exploration & Royalty Corp. (SLR.TO) has signed a binding Letter of Intent with Minera Hochschild Mexico S.A. de C.V., a 100%-owned subsidiary of Hochschild Mining plc, on Solitario's Pachuca Norte silver-gold project in central Mexico.
Per the terms of the binding letter of agreement, Hochschild can earn a 51% interest in the project by spending a total $10.0 million on exploration over a five-year period. The initial 12-month work program of $1.5 million is a firm commitment.
SLR was up 8% to $1.65, trading near 52-week high $1.86.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
