Net proceeds of the offering will also be used to make option payments and pursue strategic opportunities, as well as for working capital and general corporate purposes, said Vizsla.
The company has an option to acquire 100% of the recently consolidated 9,386.5-hectare Panuco property, including a 500-tonnes/day mill, 35 km of underground development, tailings facilities, roads, power and permits. The property is believed to exhibit similarities to the San Dimas gold-silver mine owned by First Majestic Silver (TSX: FR; NYSE: AG).
(This article first appeared in the Canadian Mining Journal)
