ValOre Metals aims to establish a 1,000 sq. km precious metals district in Brazil by acquiring South Atlantic Gold. CEO Jim Paterson highlights the merger of nearby Pedra Branca projects as a timely development. This acquisition, valued at $2.7 million, enhances ValOre’s focus on platinum-group metals. An interview discusses the company’s ambitious plans.
ValOre Metals, led by CEO Jim Paterson, is on a mission to establish a precious metals district covering nearly 1,000 square kilometers in Ceará state, Brazil. The company recently signed a letter of intent on February 14 to acquire South Atlantic Gold, agreeing to exchange 38.5 million shares, valued at approximately $2.7 million (US$1.9 million). This strategic acquisition will merge two adjacent Pedra Branca projects, which share similar geological characteristics, infrastructure, and community connections.
Jim Paterson emphasized the significance of this merger, stating, “Bringing together these two projects is long overdue.” He highlighted the company’s dynamic engagement in securing multiple deals, as ValOre seeks to unlock the value of platinum-group metals in the Brazilian market. The ambitious efforts were showcased during the recent PDAC show in Toronto, where the CEO discussed the company’s future trajectory.
For insights into this venture, a detailed interview with Jim Paterson can be viewed, featuring discussions with Henry Lazenby, the western editor of The Northern Miner. This joint venture content was sponsored and is part of a series dedicated to developments in the mining sector.
ValOre Metals is undertaking significant steps to consolidate its position in Brazil’s precious metals market with the acquisition of South Atlantic Gold. This merger, set to enhance the Pedra Branca projects, is seen as a pivotal move. CEO Jim Paterson’s proactive approach reflects the company’s commitment to exploring and maximizing platinum-group metals in the region, emphasizing their dedication to strategic growth and community involvement.
Original Source: www.northernminer.com
