News Update: 8th Feb 2024
Company Secures Stake in Chaparra Resources Agromin S.A., Expands Operations Amidst Pandemic Challenges
In a significant development, the Company has successfully acquired a 35% stake in Chaparra Resources Agromin S.A., a versatile entity engaged in both mining and agricultural activities. Despite encountering several hurdles, notably the impact of the Covid-19 pandemic, this achievement marks a crucial step forward for the Company’s strategic expansion plans.
With the official registration of this stakeholding, the Company is now poised to advance into the final phases of its ambitious project. These phases entail securing funding for the remaining stages, with a target to complete them by the end of 2024.
The initial focus will be on raising capital to initiate full-time operations, paving the way for subsequent phases involving property expansion and enhancing daily processing capacity. Commencing at 45 tonnes per day, the processing capacity is slated to increase to 300 tonnes per day within the next two years, underscoring the Company’s commitment to scaling up its operations.
Furthermore, the recent announcement by the regional Government regarding the connection of the Company’s operational zone to the national high voltage grid is poised to be a game-changer. This move not only aligns with environmental sustainability goals by reducing reliance on fossil fuels but also holds the promise of bolstering profitability.
The Company’s President, Gary Potter, emphasized that this presents a unique opportunity for both sophisticated/accredited investors and companies seeking involvement in the gold business. Interested parties are encouraged to reach out for further details via cs@saracenpro.com.
Overall, the securing of the stake in Chaparra Resources Agromin S.A. signals a significant milestone amidst challenging circumstances, highlighting the Company’s resilience and determination to thrive in the evolving business landscape.
Gary Potter
President
