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Andean Precious Metals Signs Exclusive Agreement to Purchase up to 100,000 Tonnes of Oxide Material from the Trapiche Concession in Bolivia
(All amounts are in U.S. dollars unless otherwise stated) Toronto, Ontario--(Newsfile Corp. - J...
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[{"type":"text","content":"Andean Precious Metals Signs Exclusive Agreement to Purchase up to 100,000 Tonnes of Oxide Material from the Trapiche Concession in Bolivia(All amounts are in U.S. dollars unless otherwise stated)Toronto, Ontario--(Newsfile Corp. - January 15, 2025) - Andean Precious Metals Corp. (TSX: APM) (OTCQX: ANPMF) (\"Andean\", or the \"Company\") and its wholly-owned subsidiary, Empresa Minera Manquiri S.A. (\"Manquiri\" and together with Andean, the \"Andean Entities\") have entered into a Sale and Purchase Agreement (the \"SPA\" or the \"Agreement\") of oxide material with Empresa Minera Trapiche S.R.L. (\"Trapiche\") a Bolivian company, from its Trapiche mining concession (the \"Trapiche Concession\"), located in the Municipality of San Pablo de Lipez, of the Department of Potosí, Bolivia with rights for prospecting, exploration, and commercialization. The Trapiche Concession is an undeveloped, epithermal silver and base metal deposit in Bolivia, located approximately 140 km northeast of the city of Uyuni and approximately 250 km southwest of Andean's San Bartolomé mine and processing facilities near Potosí. Transaction Highlights:Volume: The agreement allows for up to 100,000 dry tonnes of oxide materialDelivery Timelines:Initial delivery of 28,000 dry tonnes to be completed within 3 monthsFull volume to be delivered within 1 yearDelivery Terms:Mineral will be delivered to the collection area at Trapiche's mining siteWeight verification will be jointly conducted, with final sampling and grade determination performed at Manquiri's accredited laboratoryTerm of the Agreement:The Agreement shall remain in effect for 1 year or until the full delivery of the committed quantities has been completed or until explicitly terminated by the parties in accordance with its termsFinancial Terms:The fixed purchase price that the Andean Entities shall pay is based on the silver grade of the oxidized mineralQuality and ComplianceManquiri reserves the right to reject material below the agreed upon minimum grade (180 grams/dry tonne). Both parties will adhere to national environmental and safety regulations. Trapiche has also committed to complying with international anti-corruption laws, including the Foreign Corrupt Practices Act.Alberto Morales, Chairman and CEO \"Signing this exclusive agreement to purchase up to 100,000 tonnes of oxi...