Aftermath Silver Ltd. (TSXV:AAG) will receive 126 million ounces of silver essentially for free in its agreement with SSR Mining Inc. (TSX:SSRM)
Bob Moriarty | August 17, 2020 | SmallCapPower: If you are a silver bug, Aftermath Silver Ltd. (TSXV:AAG) just did a binding agreement on a project in southern Peru with a silver 43-101 resource of 126 million ounces. They are paying about $14.5 million in total in USD with a tiny NSR on production. It comes with 771 million pounds of copper in a 43-101 resource for free.
(The following is an article originally published on 321gold.com on July 29, 2020)
Alternatively, if you are a copper nutcase rather than a silver nutcase, you can think of Aftermath paying $.02 a pound for a 771 million pound copper resource that comes with 126 million ounces of silver for free. That seems like a pretty good deal to me.
They are buying the project from SSRM. SSRM used to have the most wonderful name. They were called SSR Mining Inc. (NASDAQ:SSRM) (TSX:SSRM). How cool was that?
Some bright spark determined SSRM was a better name.
In any case, SSRM (gag me with a spoon) is selling the Berenguela project to Aftermath for $13 million USD in cash over a six-year period and $3 million CAD in Aftermath shares.
This is going to go down as the deal of the century for Aftermath. The whole reason for owning a silver/copper project in an environment of hyperinflation is that it will protect you against a collapse in the U.S. dollar. I guess no one let SSRM know.
Aftermath is an advertiser. I am a shareholder. Do your own due diligence.
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