ValOre Metals is creating a substantial precious metals district in Ceará, Brazil, through a planned acquisition of South Atlantic Gold. This strategic move merges two Pedra Branca projects to enhance geological and infrastructure synergies. CEO Jim Paterson noted that this consolidation is a timely advancement for the company, which is actively pursuing multiple deals to unlock platinum-group metals value.
ValOre Metals, under the leadership of CEO Jim Paterson, plans to establish a significant precious metals district in Brazil’s Ceará state, covering nearly 1,000 square kilometers. On February 14, the company announced a letter of intent to acquire all common shares of South Atlantic Gold, offering 38.5 million shares valued at approximately $2.7 million (US$1.9 million). This acquisition aims to combine two adjacent Pedra Branca projects, which share similar geological features, infrastructure, and community relationships.
Jim Paterson emphasized the importance of this merger, stating, “Bringing together these two projects is long overdue.” He highlighted the company’s active engagement in multiple endeavors, further reiterating that he is currently managing four deals. This reflects ValOre’s strategic focus on maximizing the potential of platinum-group metals in Brazil. An insightful interview with Paterson can be viewed below, featuring The Northern Miner’s western editor, Henry Lazenby.
In conclusion, ValOre Metals is poised to significantly enhance its operations in Brazil through the acquisition of South Atlantic Gold, thus consolidating its presence in a prime precious metals district. CEO Jim Paterson’s comments underscore the strategic nature of this merger while highlighting the company’s commitment to exploring platinum-group metals opportunities in the region. ValOre continues to demonstrate a proactive approach in advancing its projects.
Original Source: www.northernminer.com
