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Adventus Mining Corporation (OTCQX: ADVZF) is a dedicated copper-gold exploration and development company with its primary focus in Ecuador. Headquartered in Toronto, Canada, Adventus Mining is publicly listed on the TSX Venture Exchange under the symbol ADZN and trades on the OTCQX under ADVZF.
The company is the majority owner (75%) of the strategically significant Curipamba copper-gold project, which includes the high-grade El Domo deposit. This project spans 215 sq. km and has undergone a comprehensive feasibility study, showcasing robust economic metrics. El Domo's feasibility study outlines a ten-year mine life with average annual production of 10,463 tonnes per annum (tpa) of copper and 21,390 tpa copper equivalent, with an initial capital cost of $248 million.
In addition to El Domo, Adventus Mining holds interest in other notable projects within Ecuador, including the Pijili and Santiago copper-gold porphyry projects, under a country-wide exploration alliance. Beyond Ecuador, Adventus has a portfolio of exploration projects in Ireland in partnership with South32 Limited.
Adventus Mining's strategic shareholders are a testament to its potential and strategic vision. These include industry giants like Altius Minerals Corporation, Greenstone Resources LP, Wheaton Precious Metals Corp., and significant Ecuadorian investors. The company's collaborative approach is further highlighted by its merger with Luminex Resources Corp., positioning Adventus as an entity with one of the largest exploration portfolios in Ecuador, spanning over 135,000 hectares.
Financially, Adventus Mining remains robust. The company's recent arrangement agreement with Silvercorp Metals Inc. (NYSE American: SVM) is a pivotal move. Silvercorp's acquisition of Adventus is valued at approximately C$200 million, providing Adventus shareholders a premium of 31% based on the 20-day volume-weighted average prices. This transaction promises to diversify asset portfolios geographically and metal-wise, enhancing Adventus' growth prospects.
Adventus Mining's commitment to sustainability and societal impact is evident through its partnerships with local communities and the Government of Ecuador. The company has secured significant permits, including the Environmental License and tailings storage approval for El Domo.
For investors and stakeholders, Adventus Mining represents a blend of strategic growth, robust partnerships, and a strong commitment to environmental and social governance (ESG).
Silvercorp Metals Inc. (TSX/NYSE American: SVM) has completed its acquisition of Adventus Mining (TSXV: ADZN, OTCQX: ADVZF) through a statutory plan of arrangement. Under the terms, former Adventus shareholders receive 0.1015 Silvercorp shares for each Adventus share. Adventus stock options and warrants are now exercisable for Silvercorp shares, adjusted according to the exchange ratio. Adventus restricted share units have been settled in cash.
Adventus intends to delist from the TSX Venture Exchange and cease being a reporting issuer. Adventus' President, CEO, CFO, and Corporate Secretary will stay on as consultants during the transition period. This acquisition marks a significant expansion for Silvercorp in the mining sector.
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