Welcome to our dedicated page for Plata Latina Minerals news (Ticker: PLLMF), a resource for investors and traders seeking the latest updates and insights on Plata Latina Minerals stock.
Plata Latina Minerals Corporation (PLLMF) is a Canadian exploration company that focuses on evaluating mineral property assets in Mexico. The company has recently sold or relinquished its interests in Mexican mineral properties and is undergoing a strategic review process. Plata Latina completed an option agreement in 2020, selling its Naranjillo Property to Fresnillo for $2,150,000 over three years, with the company currently receiving advance royalty payments. Led by interim President and CEO Mr. Gil Clausen, the company is capitalizing on its clean listed shell status with modest cash flow. For more information, please contact Chief Financial Officer Patricia Fong at +1 800 933 9925 or email patricia.fong@plminerals.com.
Plata Latina Minerals (TSXV: PLA) has announced two strategic appointments to its Board of Directors. Lance Newman and Rod Pace have joined the board effective immediately, with Newman also joining the Audit Committee.
Newman brings 35 years of experience in project development, processing, and operations in base and precious metals. His most recent role was Senior VP of Project Development at Copper Mountain Mining until its 2023 acquisition by Hudbay Minerals.
Rod Pace, currently Founder and Principal of Pace Consulting, contributes over 30 years of global mining experience in project development and operational management. He previously served as President and CEO of Rosemont Copper Company and COO of Augusta Resource until its 2014 acquisition.
Plata Latina Minerals (TSXV: PLA) has announced that Fresnillo plc will purchase the 3% net smelter return (NSR) on the Naranjillo property for US$6,000,000 (C$8,610,000). The transaction is expected to close by the end of March 2025.
Upon closing, Fresnillo will no longer be required to make advance royalty payments. This NSR purchase is part of an option agreement originally announced on February 8, 2017. The company retains a separate 2% NSR with Fortuna Mining Corp. on the La Joya project in Hildago, Mexico.
Plata Latina Minerals (TSXV: PLA) has granted 6,328,572 stock options to its directors, officer, and consultant. The options are exercisable at C$0.01 per share and have a five-year expiration date of August 23, 2029. This stock option grant is a common practice in the mining industry to align the interests of key personnel with those of shareholders and provide incentives for long-term value creation.
Plata Latina Minerals (TSXV: PLA) has entered into an agreement with a subsidiary of Fortuna Mining Corp. to sell the mining concession for the La Joya Project in Hidalgo, Mexico. In return, Plata Latina will receive a 2% Net Smelter Returns (NSR) royalty on the project, starting from the commencement of commercial production. Fortuna has the option to acquire 1% of the NSR for US$1,000,000.
This agreement adds a second royalty to Plata Latina's portfolio, complementing their existing royalty agreement with Fresnillo plc on the Naranjillo Property in Guanajuato, Mexico. The company is currently receiving advance royalty payments of US$100,000 on Naranjillo, with a 3% NSR royalty granted upon commercial production.
Plata Latina Minerals (TSXV: PLA) held its Annual General Meeting on July 29, 2024, with 29,529,295 common shares voted, representing 37.36% of the total issued and outstanding shares. Shareholders approved setting the number of directors at three, with Gilmour Clausen, Letitia Wong, and Joseph Longpre elected to the board. Davidson & Company LLP was reappointed as auditors, and the Company's Share Option Plan was approved. All resolutions passed with overwhelming support, with most receiving 100% approval, except for Gilmour Clausen's election (96.95% in favor) and the Share Option Plan (99.92% in favor).
Plata Latina Minerals announced the appointment of Letitia Wong as President and CEO, effective July 15, 2024. Ms. Wong brings 20 years of experience in corporate development, strategic transactions, and finance within the mining industry. She has served in significant roles at companies like Copper Mountain Mining and Brio Gold Inc., showcasing her expertise in leading companies through acquisitions. Ms. Wong will guide Plata Latina through its strategic review process. The former interim CEO, Mr. Clausen, will assume the role of Executive Chair.
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