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Silver Predator to Acquire Springer Tungsten Mine and Mill; Americas Bullion to Bolster Financial Support
Silver Predator to Acquire Springer Tungsten Mine and Mill; Americas Bullion to Bolster Financ...
About this update from Silver Predator Corp
[{"type":"text","content":"Silver Predator to Acquire Springer Tungsten Mine and Mill; Americas Bullion to Bolster Financial SupportSilver Predator to Acquire Springer Tungsten Mine and Mill; Americas Bullion to Bolster Financial Support\n\nReno, Nevada US, December 17, 2013 /FSC/ - Silver Predator Corp.  (SPD - TSX), (the \"Company\") is pleased to announce that it has agreed with Americas Bullion Royalty Corp. (TSX: AMB) (\"AMB\") to acquire the Springer Tungsten Mine and Mill along with several other projects, primarily in Nevada, in consideration of US$5,000,000, payable over three years, and the grant by the Company of a royalty interest in each of its properties held at closing (the \"Acquisition\").  Concurrent with the Acquisition, AMB will commit an additional US$1,800,000 by private placement to further fund the Company. \n\n\"The Springer project with its PEA exhibiting strong economics provides Silver Predator a unique opportunity to attract a joint venture partner on this advanced project,\" said Nathan Tewalt, Chief Executive Officer. \"These quality assets combined with   financial support from Americas Bullion provides us with a stronger financial base for our Company.\"\n\nACQUISITION OF SPRINGER MINING AND NEVADA ROYALTY\n\nUnder the terms of a binding letter agreement, the Company will acquire all of the outstanding shares of each of Springer Mining Company (\"Springer Mining\") and Nevada Royalty Corp. (\"Nevada Royalty\") from Golden Predator US Holding Corp. (\"GPUS\"), a wholly owned subsidiary of AMB. The assets of Springer Mining include the Springer underground mine and mill complex, including substantially all permits required for mining operations, 3,756 acres of fee land, 340 unpatented lode mining claims, 25 placer mining claims, and the Copper King Tungsten Property consisting of 7 patented and 9 unpatented mining claims, all of which are located in Pershing County, Nevada. The assets of Nevada Royalty include the Taylor mill property and equipment and water rights, the Humboldt mill site, and all patented and unpatented mining claims associated with the Modoc, Tempo, Yankee West, Guild/Skipjack, Flamingo and Lewiston properties, most of which are located in Nevada. The transaction will not include the sale of any royalties currently held by AMB. It is anticipated that, on completion of the Acqu...