Day: March 6, 2020

Arturo Bonillas, President and Chief Executive Officer of Magna, stated, “The acquisition of the San Francisco Mine is a pivotal moment in Magna’s evolution to become a growing gold producer in Mexico. Our team has a long history with the operation, and we are confident in our ability to re-establish the San Francisco Mine as a profitable mine. Our focus remains to generate value for our shareholders and this acquisition underpins our ability to do so in the immediate and long-term”.

“The Altamura acquisition completes a highly accretive process for Oroco and its shareholders,” commented Craig Dalziel, the Oroco CEO. “We are now able to fully focus on the development of a significant geological asset which brings with it a very positive local community relationship; exceptional supporting infrastructure; an eager and capable local workforce; and clearly supportive local, regional and federal government agencies. The future for Santo Tomás and the surrounding communities is very bright.”