an all-stock deal for Adventus, valued at C$200 million , that seeks to grab its 75% interest in the El Domo copper-gold project.
Silvercorp has expressed willingness to extend the deal’s closing deadline, initially set for July 31. “While Adventus may continue to have discussions with Silvercorp about the completion of the arrangement, Adventus reserves all of its rights in the event that Silvercorp fails to close the arrangement as required by the arrangement agreement, including by the ‘outside date’ under the agreement of July 31,” it said.Adventus and its partner in the Curipamba-El Domo copper-gold project, Salazar Resources , planned to begin construction in June.
Popular referendums are a necessary step for any company to obtain a mining license in Ecuador. Without them, firms would have to wait longer than expected to have all permits in place before starting construction of a mine.