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Equus Mining has exercised its option to purchase the Cerro Bayo precious metals mine in southern Chile from Mandalay Resources for 19% of its stock and a 2.25% net smelter return royalty (NSR).
Mandalay Resources' Cerro Bayo in Chile
With the market capitalisation of Equus currently about A$22 million, that represents a purchase price of just over A$4 million.
Mine restart in Chile could accelerate with studies into stockpiles
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