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Stock impact report

Apollo Silver enters deal to earn into Cinco de Mayo Project in Mexico [Yahoo! Finance]

MAG Silver Corporation Ordinary Shares (MAG) 
Last mag silver corporation ordinary shares earnings: 11/8 06:37 am Check Earnings Report
US:NASDAQ Investor Relations: magsilver.com/s/investorrelations.asp
Company Research Source: Yahoo! Finance
The agreement with MAG Silver and its subsidiary Minera Pozo Seco grants Apollo Silver an option to acquire all outstanding shares of MAG's wholly owned subsidiary 0890887 B.C. (NumberCo). NumberCo is the indirect controlling shareholder of MPS, which is the beneficial owner of the mineral concessions comprising the Cinco de Mayo Project. Apollo Silver will control exploration and development activities on the project for a five-year term. To exercise the option, Apollo Silver is required to complete at least 20,000m of exploratory drilling and obtain necessary licensing for mining activities. Upon successful exercise, Apollo Silver will issue shares to MAG, representing 19.9% ownership. The issued shares will be subject to a four-month statutory hold. During the option term, Apollo Silver will manage all project-related expenses. Post-exercise, MAG will have rights to participate in equity interests to maintain its ownership percentage. Cinco de Mayo spans around 25,000 Show less Read more
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