Bendito Resources together with its wholly-owned subsidiaries announced the execution of share purchase agreements with Azure Minerals and its subsidiary Azure Mexico under which Bendito will acquire a diversified Mexican project portfolio.
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The project portfolio consists of eight properties, including Alacran and Oposura, both of which have previously reported mineral resource estimates.
Subject to the satisfaction or waiver of customary closing conditions, the transaction is currently expected to close on or around June 30, 2022.
The Bendito team includes experienced corporate executives, geologists, and seasoned in-country management team and personnel.
Bendito is led by its President and CEO, Mr. John Antwi, an executive with over 30 years of diversified mining and management experience, most recently with Elim Mining in which Mr. Antwi was instrumental in founding and developing a world-class, pre-IPO copper project in Arizona, USA.
"The acquisition of these eight projects from Azure Minerals is expected to provide the Company with high-quality precious and base metals projects in prime geologic and mining-friendly jurisdictions with significant growth potential. We look forward to building upon the excellent reputation of Azure Minerals in Mexico, as we develop these projects. We are thrilled to advance the Alacran and Oposura projects through the remaining development stages into production to create significant value for our stakeholders," commented Mr. Antwi.
Leveraging his past international mining experience, a key priority of Mr. Antwi will be ensuring Bendito forms strong partnerships within local communities and demonstrates environmental stewardship during its drilling and exploration programs.
Bendito's Chief Financial Officer, Mr. Jeff Stieber, commented: "There are many opportunities to add value at Bendito and, together with our team in Mexico, we will aim to ensure that our project and exploration capital is directed towards capturing the highest value while responsibly positioning the Company for its future growth."
Mr. Tony Rovira, Azure's Managing Director, commented: "I think this is a terrific outcome for both Azure and Bendito. We still see significant potential in these high-quality, advanced-stage projects but with our focus now on the Andover nickel-copper-cobalt project in Australia, it makes sense for these projects to sit within a dedicated special-purpose group focused solely on Mexico. The team behind Bendito has a successful track record of identifying, acquiring, developing, and operating projects; so, retaining exposure to these assets that we know so well should be both exciting and rewarding for Azure shareholders." ■