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Scorpio Mining and U.S. Silver merge to create ‘leading junior silver producer’

Posted by ipso facto @ 10:43 on November 10, 2014  

Mexican-focused silver producer, Scorpio Mining (TSX: SPM), merged with U.S. Silver & Gold (TSX: USA) to create a silver producer focused on the Americas and better survive low precious metal prices.

The entity will stay under the name Scorpio Mining. The new junior silver miner will have two established producing mines, a third mine in development, an advanced stage exploration project, and pro forma net working capital of approximately C$40 million.

Scorpio Mining’s stock was halted today pending announcement of the news.

more http://www.mining.com/u-s-silver-and-scorpio-mining-merge-to-create-leading-junior-silver-producer-42446/

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.