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Article: Pan American Silver to complete Morococha silver mine acquisition in August.
- Article from:
- PR Newswire
- Article date:
- July 23, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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(all amounts in $US unless otherwise stated)
Pan American Silver Corp. (PAAS: NASDAQ; PAA: TSX) is pleased to announce it has launched its $36.7 million cash offer, through the Peru Stock Exchange, to purchase the voting shares of Compania Minera Argentum S.A. ("Argentum"), which owns the Morococha silver mine, as announced in February. Pan American has a lock-up agreement to acquire 92% of Argentum's voting shares. The public offering must remain open for 20 business days, after which the purchase of Morococha will be completed.
In addition, Pan American has acquired 100% of Compania Minera Natividad ("Natividad") for $1.5 million, which holds numerous ...