In a move aimed at accelerating production from the Velardena gold-silver mine in Durango state, Mexico, a group of investors represented by Global Equities has acquired a block of ECU Gold Mining (ECU-M) shares.
The 14.9 million shares, formerly held by William Resources (WIM-T), represent 37% of ECU’s share capital.
The Velardena operation, which includes a milling facility, is expected to reach its 1,000-tonne-per-day capacity by early 1999.
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