Nyrstar: Completion of the Coricancha mine sale
03 Juillet 2017 - 7:00AM
Regulated Information - Inside
Information
3 July 2017 at 07:00 CET
Nyrstar NV ("Nyrstar") today announces it has
successfully completed the sale of its Coricancha mine in Peru to
Great Panther Silver Limited, a primary silver mining and
exploration company listed on the Toronto Stock Exchange, for a
total cash consideration of USD 0.1 million plus earn-out
consideration of up to US 10 million (the "Transaction"). Under the
earn-out, Nyrstar will be paid 15% of the free cash-flow generated
by the Coricancha mine during the 5-year period after which the
Coricancha mine is cumulative free cash-flow positive from closing
of the Transaction.
As previously announced, the share purchase
agreement for the Transaction was entered into on 20 December 2016
and had a number of customary conditions precedent that needed to
be satisfied before the Transaction could complete.
About Nyrstar
Nyrstar is a global multi-metals business, with a market leading
position in zinc and lead, and growing positions in other base and
precious metals, which are essential resources that are fuelling
the rapid urbanisation and industrialisation of our changing world.
Nyrstar has mining, smelting and other operations located in
Europe, the Americas and Australia and employs approximately 4,300
people. Nyrstar is incorporated in Belgium and has its corporate
office in Switzerland. Nyrstar is listed on Euronext Brussels under
the symbol NYR. For further information please visit the Nyrstar
website: www.nyrstar.com.
For further information
contact:
Anthony Simms - Head of Investor
Relations T: +41 44 745 8157 M: +41 79 722
2152 anthony.simms@nyrstar.com
Franziska Morroni - Head of Corporate Communications T: +41 44 745
8295 M: +41 79 719 2342 franziska.morroni@nyrstar.com
The full press release can be downloaded from the
following link:
Press release (English)
Press release (Dutch)
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Nyrstar via Globenewswire
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