The sliding-scale NSR consists of a 1% NSR on all mineral production when the silver price is under $25 per oz. and a 1.25% NSR on all mineral production when the silver price is over $25 per oz. and the copper price is above $2 per pound.
The project has a historic resource of 98 million oz. silver and 624 million lb. copper
The closing of the acquisition is subject to SSR Mining reacquiring a 100% interest in Sociedad Minera Berenguela from the project’s previous operator, Valor Resources (ASX: VAL).
Berenguela is an epithermal polymetallic carbon replacement deposit located in Puno, 50 km from Juliaca. The project has a historic resource of 98 million oz. silver and 624 million lb. copper.
Elsewhere in Peru, Aftermath Silver has an option to acquire 20% of the Cachinal silver-gold project from SSR Mining. The junior currently owns 80% of the project, 170 km from Taltal.
Aftermath Silver is also earning a 100% stake in the Challacollo silver-gold project, 130 km south of the port city of Iquique, in Chile, from Mandalay Resources (TSX: MND; US-OTC: MNDJF).
At press time in Toronto, Aftermath Silver was trading at 84¢ per share within a 52-week trading range of 9¢ and $1.07.
The company has 126 million common shares outstanding for a C$106-million market capitalization.
(Carl A. Williams – This article first appeared in The Northern Miner on October 10)
