Business
VanGold Engages Behre Dolbear for PEA on El Cubo Purchase
VANCOUVER, BC / ACCESSWIRE / January 14, 2021 / VanGold Mining Corp (the " Company " or " Va...
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":"VanGold Engages Behre Dolbear for PEA on El Cubo PurchaseVANCOUVER, BC / ACCESSWIRE / January 14, 2021 / VanGold Mining Corp (the \"Company\" or \"VanGold\") (TSXV:VGLD) announces that it has engaged Behre Dolbear & Company Inc. (\"Behre Dolbear\") to provide a Preliminary Economic Assessment (PEA) in relation to its purchase of the El Cubo mine and mill complex (\"El Cubo\") located 8km by road northeast of the Company's El Pinguico silver-gold project near the city of Guanajuato, Mexico from Endeavour Silver Corp. (\"Endeavour\"), as announced on December 18, 2020.Engages Behre Dolbear for PEA:The Company has engaged the engineering consultancy firm of Behre Dolbear to provide third party engineering due diligence and guidance regarding the purchase, refurbishing, and operation of the El Cubo mine and mill and complete a NI 43-101 compliant PEA level study by early February 2021. This study will form part of VanGold's submission to the TSX Venture Exchange (the \"TSXV\") for acceptance of the Company's acquisition of El Cubo. Prior to signing its LOI with Endeavor and as part of VanGold's initial due diligence, Behre Dolbear completed a 37 page ‘Desk Top Review' of VanGold's El Cubo / El Pinguico business plan. This review has helped form the basis of VanGold's internal cash flow modelling and initial, high level mine planning for the combined operation.VanGold Director Hernan Dorado Smith said: \"Having spent four days in Guanajuato with the Behre Dolbear team in November 2020, both at El Pinguico and at El Cubo, we are impressed with their experience, hard work, and professionalism. We look forward to a long business relationship with them.\"About Behre Dolbear: One of the oldest mineral industry advisory firms in the world, continuously operating since 1911, Behre Dolbear specialises in performing impartial technical and strategic studies for mining companies, financial institutions, governments and international agencies. Typical studies include resource and reserve reviews, mineral property valuations, due diligence studies for bankability and acquisition purposes, and independent expert reports for capital raisings and valuations.El Cubo Mine and Mill: On December 18, 2020 the Company announced it had signed a binding LOI with Endeavour (the \"Endeavour Agreement\") to acquire El Cubo (the \"Acquisition\"). Th...