Execution of a Partner Agreement for Los Gatos in Mexico
On December 18, 2014, Dowa Metals & Mining Co., Ltd. (Dowa) entered into a Partner Agreement with Sunshine Silver Mining & Refining Corporation (SSMRC), pursuant to which it will acquire a 30% interest in Minera Plata Real, S. de R.L. de C.V. (MPR), a subsidiary of SSMRC which owns the Los Gatos silver-zinc-lead project in Chihuahua, Mexico, and the right to purchase zinc concentrate produced by the project by paying an aggregate amount equal to US$50 million.
Los Gatos, operated by SSMRC, is located approximately 128 kilometers south of the state capital of Chihuahua City, in Northern Mexico and consists of two identified silver discoveries, the Cerro Los Gatos zone and the Esther zone, as well as 14 other priority targets with over 100 kilometers of outcropping quartz and calcite veins. The area is characterized by a predominant silver-lead-zinc mineralization.
Dowa, a subsidiary of DOWA Holdings Co., Ltd., is an active nonferrous metal manufacturer whose principal products include gold, silver, copper, zinc, zinc alloys, lead platinum, palladium, indium, bismuth, tellurium, sulfuric acid and other metals.
Further information can be found on Dowa's website.