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Great Panther inks LoI to sell Coricancha mine

14th September 2022

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

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Cash-strapped precious metals miner Great Panther Mining has signed a nonbinding letter of intent (LoI) with Newrange Gold to sell its Coricancha mine, in Peru, for $750 000 in cash.

Coricancha, located in the central Andes, about 90 km east of Lima, is a past-producing mine. It is currently on care and maintenance and includes an operational 600 t/d mill, an underground mine and supporting infrastructure.

Great Panther is facing liquidity constraints and recently filed for creditor protection. Its focus is on the Tucano gold mine, in Brazil, but it has faced several operational challenges.

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