Andean Precious Metals Signs Exclusive Agreement to Purchase up to 250,000 Tonnes of Oxide Material from COMIBOL in Bolivia
Andean Precious Metals (TSX: APM, OTCQX: ANPMF) has signed a significant Sale and Purchase Agreement with COMIBOL, Bolivia's state-owned mining company. The agreement allows Andean to purchase up to 250,000 dry tonnes of oxide material from COMIBOL's Real del Monte and Temeridad mining concession, located 18 km northeast of Uyuni and 200 km southwest of Andean's San Bartolomé mine.
Key terms include: a US$3 million upfront payment ($12.00 per tonne), delivery within 25 months, and ongoing monthly payments for COMIBOL's operating and administrative expenses. The material must meet a minimum grade of 180 grams/dry tonne, with Andean reserving the right to reject substandard material. Weight verification will be conducted jointly, with final sampling performed by an accredited Bolivian laboratory.
Andean Precious Metals (TSX: APM, OTCQX: ANPMF) ha firmato un importante Contratto di Vendita e Acquisto con COMIBOL, l'azienda mineraria statale della Bolivia. L'accordo consente ad Andean di acquistare fino a 250.000 tonnellate secche di materiale ossidato dalla concessione mineraria di Real del Monte e Temeridad di COMIBOL, situata a 18 km a nord-est di Uyuni e a 200 km a sud-ovest della miniera di San Bartolomé di Andean.
I termini chiave includono: un pagamento iniziale di 3 milioni di dollari USA (12,00 dollari per tonnellata), consegna entro 25 mesi e pagamenti mensili continui per le spese operative e amministrative di COMIBOL. Il materiale deve soddisfare un grado minimo di 180 grammi/tonnellata secca, con Andean che si riserva il diritto di rifiutare materiale di bassa qualità. La verifica del peso sarà effettuata congiuntamente, con il campionamento finale eseguito da un laboratorio accreditato boliviano.
Andean Precious Metals (TSX: APM, OTCQX: ANPMF) ha firmado un importante Acuerdo de Compra y Venta con COMIBOL, la empresa minera estatal de Bolivia. El acuerdo permite a Andean comprar hasta 250,000 toneladas secas de material óxido de la concesión minera de Real del Monte y Temeridad de COMIBOL, ubicada a 18 km al noreste de Uyuni y a 200 km al suroeste de la mina San Bartolomé de Andean.
Los términos clave incluyen: un pago inicial de 3 millones de dólares EE.UU. (12,00 dólares por tonelada), entrega dentro de 25 meses y pagos mensuales continuos para los gastos operativos y administrativos de COMIBOL. El material debe cumplir con un grado mínimo de 180 gramos/tonelada seca, reservándose Andean el derecho de rechazar material de calidad inferior. La verificación del peso se realizará de manera conjunta, con el muestreo final ejecutado por un laboratorio boliviano acreditado.
안데안 프레셔스 메탈스 (TSX: APM, OTCQX: ANPMF)는 볼리비아의 국영 광산 회사인 COMIBOL과 중요한 매매 계약을 체결했습니다. 이 계약은 안데안이 COMIBOL의 Real del Monte 및 Temeridad 광산 허가구역에서 최대 250,000 톤의 건조 산화물을 구매할 수 있도록 허용합니다. 해당 광산 허가구역은 우유니에서 북동쪽으로 18km, 안데안의 San Bartolomé 광산에서 남서쪽으로 200km 떨어져 있습니다.
주요 조건으로는 300만 달러의 선불금 (톤당 12.00 달러), 25개월 이내의 배송, COMIBOL의 운영 및 관리 비용에 대한 계속적인 월별 지불이 포함됩니다. 물질은 최소 180그램/건조톤의 등급을 충족해야 하며, 안데안은 품질이 낮은 물질을 거부할 권리를 보유합니다. 중량 검증은 공동으로 수행되며, 최종 샘플링은 인증된 볼리비아 실험실에서 진행됩니다.
Andean Precious Metals (TSX: APM, OTCQX: ANPMF) a signé un accord de vente et d'achat important avec COMIBOL, l'entreprise minière d'État de la Bolivie. Cet accord permet à Andean d'acheter jusqu'à 250 000 tonnes sèches de matériel oxydé de la concession minière de Real del Monte et Temeridad de COMIBOL, située à 18 km au nord-est d'Uyuni et à 200 km au sud-ouest de la mine San Bartolomé d'Andean.
Les conditions clés incluent : un paiement initial de 3 millions de dollars US (12,00 $ par tonne), une livraison dans les 25 mois et des paiements mensuels continus pour les frais d'exploitation et d'administration de COMIBOL. Le matériau doit respecter une teneur minimale de 180 grammes/tonne sèche, Andean se réservant le droit de rejeter du matériel de qualité inférieure. La vérification du poids sera réalisée conjointement, avec l'échantillonnage final effectué par un laboratoire bolivien accrédité.
Andean Precious Metals (TSX: APM, OTCQX: ANPMF) hat einen bedeutenden Verkaufs- und Kaufvertrag mit COMIBOL, dem staatlichen Bergbauunternehmen Boliviens, unterzeichnet. Der Vertrag ermöglicht es Andean, bis zu 250.000 trockene Tonnen oxidisches Material von COMIBOLs Bergbaukonzession Real del Monte und Temeridad zu kaufen, die 18 km nordöstlich von Uyuni und 200 km südwestlich der Goldmine San Bartolomé von Andean liegt.
Wichtige Bedingungen sind: eine vorab Zahlung von 3 Millionen US-Dollar (12,00 USD pro Tonne), Lieferung innerhalb von 25 Monaten und laufende monatliche Zahlungen für die Betriebs- und Verwaltungskosten von COMIBOL. Das Material muss eine Mindestqualität von 180 Gramm/trockene Tonne erreichen, wobei Andean sich das Recht vorbehält, minderwertiges Material abzulehnen. Die Gewichtskontrolle wird gemeinsam durchgeführt, und die endgültige Probenahme erfolgt durch ein akkreditiertes bolivianisches Labor.
- Secured access to 250,000 tonnes of oxide material for processing
- Strategic location near existing San Bartolomé mine facilities
- Fixed price of $12 per tonne provides cost certainty
- Minimum grade requirement of 180 grams/dry tonne ensures quality control
- Significant upfront payment of $3 million required
- Additional ongoing monthly operating and administrative expenses
- 25-month delivery timeline may present execution risks
Toronto, Ontario--(Newsfile Corp. - February 6, 2025) - Andean Precious Metals Corp. (TSX: APM) (OTCQX: ANPMF) ("Andean", or the "Company"), through its wholly-owned subsidiary, Empresa Minera Manquiri S.A. ("Manquiri" and together with Andean, the "Andean Entities") has entered into a Sale and Purchase Agreement (the "SPA" or the "Agreement") of oxide material with CORPORACIÓN MINERA DE BOLIVIA ("COMIBOL"), a Bolivian state owned mining company, from its mining concession of Real del Monte and Temeridad (the "COMIBOL Concession"), located in the Municipality of Uyuni, in the Department of Potosí, Bolivia. COMIBOL has the exclusive rights for prospecting, exploration, and mining of the COMIBOL Concession.
The COMIBOL Concession is an epithermal silver and base metal deposit in Bolivia, located approximately 18 km northeast of the city of Uyuni and approximately 200 km southwest of Andean's San Bartolomé mine and processing facilities near Potosí.
Transaction Highlights:
Volume:
- The Agreement allows for up to 250,000 dry tonnes of oxide material.
Delivery Timelines:
- Full volume shall be delivered within 25 months.
Delivery Terms:
- Mineral will be delivered to the collection area at COMIBOL's mining site.
- Weight verification will be jointly conducted, with final sampling and grade determination performed with an accredited laboratory in Bolivia.
Termination:
- The Agreement shall remain in effect for 25 months or until the full delivery of the committed quantities has been completed or until explicitly terminated by the parties in accordance with its terms.
Financial Terms:
- Three million US dollars (US
$3,000,000) , paid on closing, for 250,000 tonnes of oxide material at price per ton of US$12.00 . In addition, on an ongoing monthly basis during the term of the Agreement, the Company will pay the operating and administrative expenses incurred by COMIBOL for the mining of the oxidized mineral purchased.
Quality and Compliance
The Company reserves the right to reject material below the agreed upon minimum grade (180 grams/dry tonne). Both parties will adhere to national environmental and safety regulations.
About Andean Precious Metals
Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in the Americas. The Company owns and operates the San Bartolomé processing facility in Potosí, Bolivia and the Soledad Mountain mine in Kern County, California, and is well-funded to act on future growth opportunities. Andean's leadership team is committed to creating value; fostering safe, sustainable and responsible operations; and achieving our ambition to be a multi-asset, mid-tier precious metals producer.
For more information, please contact:
Amanda Mallough
Director, Investor Relations
amallough@andeanpm.com
T: +1 647 463 7808
Caution Regarding Forward-Looking Statements
Certain statements and information in this release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.
Forward-looking statements in this release include, but are not limited to, statements and information regarding the Agreement and its impacts on the Company, the Company's supply chain and the Company's 2025 production. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: the Company's ability to carry on exploration and development activities; the Company's ability to secure and to meet obligations under property and option agreements and other material agreements; the timely receipt of required approvals and permits; that there is no material adverse change affecting the Company or its properties; that contracted parties provide goods or services in a timely manner; that no unusual geological or technical problems occur; that plant and equipment function as anticipated and that there is no material adverse change in the price of silver, costs associated with production or recovery. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct, and you are cautioned not to place undue reliance on forward-looking statements contained herein.
Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this release include, but are not limited to: risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks relating to possible variations in reserves, resources, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the potential for delays in exploration or development activities or the completion of feasibility studies; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity price and foreign exchange rate fluctuations; the uncertainty of profitability based upon the cyclical nature of the industry in which the Company operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental or local community approvals or in the completion of development or construction activities; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment; and other factors contained in the section entitled "Risk Factors" in the Company's MD&A for the three and nine months ended September 30, 2024.
Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in this release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239845
FAQ
What is the total value of Andean Precious Metals' (ANPMF) oxide material purchase agreement with COMIBOL?
What is the minimum grade requirement for ANPMF's oxide material purchase from COMIBOL?
What is the delivery timeline for ANPMF's 250,000 tonnes oxide material purchase?