UPDATE: Santacruz Silver Adds Fourth Silver Project to Its Portfolio; Shares Up 2%
Santacruz Silver Mining Ltd. (SCZ.V) announced that pursuant to the San Felipe Agreement with Hochschild Mining, dated August 18, 2011, it has exercised its option to acquire the 48,057.33 hectare El Gachi project located 30 kilometers from the San Felipe project in Sonora state.
Under the terms of the agreement, Santacruz has the option to retain the property by making a US$3million payment before or by October 2014. This will give Santacruz 100% ownership of the El Gachi property.
SCZ rose to $1.87 by nearly 2%, with 52-week range of $0.80 - $2.50.
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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.
