African Energy Metals’ Reactivation and the Niñobamba Advanced Silver Gold Project
Vancouver, British Columbia – African Energy Metals Inc. (CUCO.H, BC2, A3DEJG) is making significant strides in the mining industry with its recent announcement regarding the conditional acceptance of its reactivation from NEX to Tier 2 on the TSX Venture Exchange. This reactivation comes in conjunction with the Company’s option agreement with Rio Silver Inc., granting African Energy Metals a 100% interest in the Niñobamba advanced silver gold project in Peru.
The Niñobamba Project
The Niñobamba Project, located in the prolific silver-gold district of Huancavelica, Peru, is a promising acquisition for African Energy Metals. The Project consists of 12 mining concessions totaling 12,642 hectares and is situated near existing infrastructure, including roads, power lines, and water sources. The Project’s mineralization includes silver, gold, lead, zinc, and copper.
Conditional Approval
The conditional acceptance of the reactivation is subject to several conditions, including the closing of the Company’s previously announced $1,000,000 private placement financing, payment of Exchange fees, and Exchange acceptance of the Company’s NI-43-101 technical report respecting the Project. Once these conditions are met, African Energy Metals will officially reactivate its listing on the TSX Venture Exchange.
Impact on African Energy Metals
The conditional acceptance of the reactivation represents a significant milestone for African Energy Metals. This listing upgrade allows the Company to access a larger investor base and increased liquidity. With the Niñobamba Project in its portfolio, African Energy Metals is well-positioned to generate revenue and potentially increase shareholder value.
Impact on the World
The mining industry, particularly the silver and gold sectors, stands to benefit from African Energy Metals’ reactivation and the development of the Niñobamba Project. Peru is a leading producer of silver and gold, and the Project’s strategic location in the Huancavelica district could contribute to the country’s continued dominance in the global mining industry.
Conclusion
African Energy Metals’ conditional acceptance into the TSX Venture Exchange’s Tier 2 listing and its acquisition of the Niñobamba advanced silver gold project mark a significant step forward for the Company. With the potential to generate revenue and increase shareholder value, African Energy Metals is well-positioned to make a positive impact on the mining industry. Furthermore, the development of the Niñobamba Project in Peru could contribute to the country’s continued prominence as a leading producer of silver and gold.
- African Energy Metals’ reactivation from NEX to TSX Venture Exchange’s Tier 2
- Acquisition of Niñobamba advanced silver gold project in Peru
- Project is situated near existing infrastructure
- Conditional approval subject to financing, fees, and technical report acceptance
- Potential to generate revenue and increase shareholder value
- Contributes to Peru’s continued dominance in global mining industry
