E2 Metals Secures “transformational” acquisition of silver-gold project
- E2 Metals (E2M) is acquiring the Pingüino gold and silver project in the Santa Cruz province of Argentina for a mix of cash and scrip
- The company will buy the project through a share sale agreement with Austral Gold (AGD) to acquire SCRN Properties, which owns Pingüino
- E2M will pay up to US$5 million (A$7.4 million) in cash and, subject to shareholder approval, will issue 49.7 million shares and 15 million options at 26 cents
- E2 Metals says Pingüino is one of the largest undeveloped silver-gold resources in Santa Cruz and lies 15 kilometres from the company’s Conserrat project
- E2M shares are up 15.4 per cent to trade at 15 cents at 2:21 pm AEDT
