Linear closed the deal with Swiss mining house
In exchange, Xstrata will receive a cash payment (which Linear has not yet disclosed), 1 million shares valued at 76, and warrants on a further 500,000 shares; the warrants are exercisable at $1 for two years. There is also a finder’s fee payable to Minera Cascabel, a Mexican company based in Sonora state.
The Chiapas properties include the Ixhuatan exploration concession, where zones of gold concentration in soils and coincident induced-polarization anomalies were detected by MIM exploration crews in the past two years. Ixhuatan has not yet been drilled.
A second property, Motozintla, near the Guatemalan border, is 65 km west of the Marlin deposit of
The properties in the Dominican Republic include two exploration concessions adjoining the Pueblo Viejo gold deposit, where
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