- Mandalay Resources (MND) has completed the sale of Minera Mandalay Challacollo Limitada (MMC) to Aftermath Silver Inc.
- MMC owns the Challacollo silver-gold project located in Chile
- Aftermath will purchase 100 per cent of MMC in exchange for C$8.0 million plus a 3 per cent net smelter return
- Mandalay Resources is a Canadian-based natural resource company with assets in Australia and Sweden
- Mandalay Resources Corporation (MND) opened trading at C$2.69
Mandalay Resources (MND) has completed the sale of Minera Mandalay Challacollo Limitada (MMC) to Aftermath Silver Inc. MMC owns the Challacollo silver-gold project located in Chile.
Aftermath will purchase 100 per cent of MMC in exchange for C$8.0 million plus a 3 per cent net smelter returns royalty on production at Challacollo, capped at US$3.0 million.
Dominic Duffy, President and CEO of Mandalay, commented on the transaction.
“Mandalay is pleased to have successfully closed the sale of Challacollo to Aftermath. This transaction aligns with Mandalay’s objective with creating value from its non-core assets. We wish Aftermath further success on the restart of exploration in the region and look forward to a strong and mutually beneficial relationship with Aftermath.”
Mandalay Resources is a Canadian-based natural resource company with assets in Australia and Sweden.
Aftermath Silver Ltd. is a Canadian junior exploration company focused on acquiring, exploring, and developing mineral properties with an emphasis on silver in Chile.
Mandalay Resources Corporation (MND) opened trading at C$2.69.
