Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Bernie Sanders calls for RFK Jr. to resign...
Top Senate Republican ready to go nuclear, ‘roll...
Altech Batteries LtdCERENERGY Battery 46.7M Euro German Grant...
Altech – CERENERGY Battery 46.7M Euro German Grant...
Locksley Resources LimitedStrengthens Leadership to Accelerate Growth Strategy
Heliostar Presents Second Quarter 2025 Financial Results
Apollo to Proceed with 5-for-1 Share Consolidation
Rhode Island’s ‘Taylor Swift Tax’ on vacation homes...
Former FBI Director Robert Mueller has Parkinson’s disease:...
Earthwise Advertising & Investor Awareness Campaign
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Alvo Minerals to Acquire Pan American’s Lavra Velha Gold-Copper Project

by admin April 1, 2025
April 1, 2025
Alvo Minerals to Acquire Pan American’s Lavra Velha Gold-Copper Project

Brazil-focused explorer Alvo Minerals (ASX:ALV,OTC Pink:ALVMF) has signed a non-binding letter of intent with Pan American Silver (TSX:PAAS,NYSE:PAAS) to acquire the Lavra Velha gold-copper project.

According to Alvo, the project and surrounding exploration ground were considered by Pan American to be ‘non-core’ after the company completed its acquisition of Yamana Gold in 2022.

Mineralization was discovered at Lavra Velha in 2010, and the site was explored from 2010 to 2013, and then from 2018 to 2022. The project covers 55,000 hectares in Brazil’s Bahia state.

Lavra Velha has a NI 43-101 resource estimate of 9.2 million tonnes at 1.76 grams per tonne (g/t) gold for 520,000 ounces. That includes an indicated resource of 4.5 million tonnes at 1.96 g/t gold for 282,000 ounces, as well as an inferred resource of 4.7 million tonnes at 1.56 g/t gold for 238,000 ounces.

“We are very excited about the proposed acquisition of the Lavra Velha Gold-Copper Project,’ Alvo Managing Director Rob Smakman said in a Monday (March 31) announcement, adding that the property is complementary to the company’s Palma copper-zinc project. He also commented positively on current gold and copper market dynamics.

The company plans to update Lavra Velha’s NI 43-101 resource to meet JORC standards. Among other adjustments, it will use the current gold price instead of the previous US$1,650 per ounce price.

As part of the acquisition plan, Alvo will be opening an entitlement offer to raise up to AU$3.5 million among its shareholders, with each share priced at AU$0.06. Once raised, the amount is proposed to cover the US$1 million upfront cash payment portion of the transaction, along with initial exploration of Lavra Velha.

The entitlement offer is set to open to eligible Alvo shareholders on Friday (April 4).

Completion of the transaction with Pan American is subject to Alvo’s satisfaction of due diligence and the execution of an asset purchase agreement. The due diligence completion has a 45 day exclusivity period.

Shares of Alvo rose as high as AU$0.066 following the announcement, up 10 percent from the firm’s previous AU$0.06 close. Pan American finished at US$25.55, a 1.47 percent dip from its US$25.94 close last week.

According to Global Business Reports’ Brazil Mining 2024 report, mining in Brazil continues to be fueled by iron ore, but is slowly seeing diversification through a growing number of gold, rare earths and lithium projects.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Quimbaya Gold Announces Annual General Meeting Results and Board Changes
next post
Inca to Raise $1.1M

You may also like

Group Eleven Intersects 12.0m of 2.30% Cu and...

May 8, 2025

5 Biggest Pharma Stocks in 2024

December 4, 2024

MAC President Calls for Renewed Investment, Streamlined Approvals...

September 24, 2024

PROSPECT RIDGE CONFIRMS LARGE MINERALIZED SYSTEM AT COPPER...

November 19, 2024

5 Top Weekly TSXV Stocks: Gold Stocks Gain...

August 19, 2024

Top 10 Gold Reserves by Country

November 22, 2024

Crypto Market Update: Bitcoin Pulls Back After New...

August 17, 2025

Van Eck Opposes Equinox Gold’s US$1.8 Billion Takeover...

March 20, 2025

Canadian Investment Regulatory Organization Trade Resumption – PRIZ

July 19, 2025

Agreement to Acquire Major Drill-Ready Antimony-Gold-Tungsten Project in...

June 11, 2025

Recent Posts

  • Bernie Sanders calls for RFK Jr. to resign as HHS secretary over vaccine policies: ‘Rally the American people’
  • Top Senate Republican ready to go nuclear, ‘roll over’ Democrats with rule change to confirm Trump nominees
  • Altech Batteries LtdCERENERGY Battery 46.7M Euro German Grant Approval
  • Altech – CERENERGY Battery 46.7M Euro German Grant Approval
  • Locksley Resources LimitedStrengthens Leadership to Accelerate Growth Strategy

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (903)
    • Investing (2,877)
    • Politics (3,527)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.