Opción para adquirir el proyecto Monte Do Carmo, Brasil
_____________________________________________________________________________________
5 de marzo de 2024
Opción para adquirir el proyecto Monte Do Carmo, Brasil
Hochschild Minería PLC ("Hochschild" o de "Empresa") (LSE: HOC) (OTCQX: HCHDF) is pleased to announce that its wholly-owned subsidiary, Amarillo Mineração do Brasil Ltda. ("Amarillo Mineração") has entered into an option agreement and certain ancillary agreements (the "Acuerdos") with Cerrado Gold Inc. ("Cerrado") (TSXV: CERT) (OTCPK: CRDO.F), pursuant to which Cerrado has granted Amarillo Mineração the option (the "Opción") to acquire a 100% interest in Cerrado's Monte Do Carmo Project (the "Proyecto") located in the mining-friendly state of Tocantins, Brazil.
The Project, comprising 21 mineral concessions encompassing 82,542 hectares, hosts multiple identified gold targets along a 30km mineralised trend, including the principal Serra Alta gold deposit, which hosts a Measured and Indicated resource of 1,012koz gold and Inferred resource of 66koz gold and was the subject of a Feasibility Study dated 31 October 2023. The Project benefits from significant existing site infrastructure including year-round access via a paved highway and close proximity to the Isamu Ikeda hydropower plant. Permitting is substantially advanced, with the Environmental Impact Assessment approved and the Preliminary Licence granted by the Tocantins state environmental agency in May 2023.
In consideration for entering into the Option, Amarillo Mineração has agreed to advance to Cerrado an amount equal to $15 million by way of 10% interest-bearing secured loan (the "Signing Loan") and has committed to incur a minimum of $5 million in exploration expenditures at the Project during a 12.5-month period ending on 19 March 2025 (the "Período de opción").
At any time during the Option Period, Amarillo Mineração may, at its sole discretion, elect to exercise the Option to acquire a 100% interest in the Project by deemed repayment of the Signing Loan, and by making further cash payments to Cerrado totaling $45 million in the aggregate, in multiple installments over the next three years, as further described below (together with the Option, the "Transacción"). Hochschild has provided a guarantee of the obligations of Amarillo Mineração under the Agreements.
Eduardo Landin, director ejecutivo de Hochschild, comentó:
"We are pleased to have secured the option to acquire Monte Do Carmo, an exciting project in the mining-friendly state of Tocantins. With the project holding significantly advanced permitting and compelling exploration upside potential, the transaction aligns with our strategy of adding high quality, pre-production assets where our construction, operational and brownfield exploration expertise provides us with a competitive advantage. With our Mara Rosa mine, also located in Brazil, in the state of Goiás, recently achieving first production, we are looking forward to commencing a brownfield exploration programme at Monte Do Carmo which will allow us to assess the next steps for its development and its potential to generate sustainable value for Hochschild and local stakeholders."
Detalles de la transacción
Amarillo Mineração has agreed to advance US$15 million by way of 10% interest-bearing secured loan, advanced in cash as follows:
· US$7 million has been advanced by Amarillo Mineração (la "First Advance") on the date of the Option grant;
· US$1 million to be advanced 60 days after the date of the First Advance; and
· US$7 million to be advanced within two business days following the mailing to Cerrado shareholders of the management information circular to be prepared in connection with the meeting of Cerrado shareholders at which management would seek the approval of the shareholders of Cerrado (la "Cerrado Shareholder Approval").
Upon obtaining the Cerrado Shareholder Approval, the Signing Loan, together with all accrued and unpaid interest thereon and expenses relating thereto, shall be deemed to be repaid in full by Cerrado by the concurrent set off of an amount equal to the Signing Loan due by Amarillo Minería as part of the Purchase Price. If Cerrado fails to secure the Cerrado Shareholder Approval on or before 30 June 2024, the Signing Loan will mature on 30 September 2024, at which time Cerrado will be obliged to: (i) repay the Signing Loan and other expenses (and any interest accrued thereon) no later than 30 September 2024; (ii) reimburse Amarillo Mineração for any costs incurred on the Project between the date of signing of the Agreements and the date of termination of the Option; and (iii) pay to Amarillo Mineração a break fee in the amount of US$2.5 million.
Amarillo Mineração may exercise the Option at its sole discretion at any time during the Option Period by providing an exercise notice to Cerrado, following which an aggregate amount of US$45 million would be payable to Cerrado prior to the closing of the Transaction in cash as follows (collectively, the "Consideración"):
· US$10 million following the exercise of the Option;
· US $ 20 millones upon either: (i) if necessary, the approval of the Transaction by Hochschild shareholders, which is to occur no later than June 30, 2025; or (ii) if Hochschild shareholder approval is not required, by no later than 30 March 2025.
· US $ 10 millones payable within 14 days of the second anniversary of the date of the Cerrado Shareholder Approval; y
· US$5 million within 14 days of the earlier of (i) the commencement of commercial production from the Project, and (ii) 31 March 2027.
All amounts owing by Cerrado to, or advanced to Cerrado by, the Company or Amarillo Mineração, are secured by (i) a first lien on all of the outstanding equity interests (quotas) in Serra Alto, and (ii) a second lien on the assets relating to the Project (the "Seguridad"), until termination of the Option Period (defined below). The security is subject to a security sharing agreement with another secured creditor.
Closing of the Transaction will be subject to a number of conditions, including: (i) the exercise of the Option by Amarillo Mineração, (ii) the payment by Amarillo Mineração of the full Consideration, (iii) the approval of the TSX Venture Exchange, (iv) Cerrado Shareholder Approval, and (v) satisfaction of other closing conditions customary in a transaction of this nature.
Amarillo Mineração has the right to terminate the Option at any time before the expiry of the Option Period and will have no further obligation to Cerrado, other than, if Amarillo Mineração elects to terminate or not to exercise the Option or material breaches the Agreements, the payment of the unfunded amount of the Expenditure Requirement. The Transaction will be funded from Amarillo Mineração's existing funding resources.
Cerrado's board of directors has unanimously recommended that Cerrado shareholders vote in favour of the Transaction. The directors, officers and a principal shareholder of Cerrado, holding common shares and options reflecting in aggregate approximately 23.6% of Cerrado's issued and outstanding common shares on a fully diluted basis, have entered into voting and support agreements with Amarillo Mineração, pursuant to which they have agreed, among other things, to vote their Cerrado securities in favour of the Transaction.
The Agreement includes customary deal-protection provisions. Cerrado has agreed not to solicit or initiate any discussion regarding any other business combination or transaction involving the direct or indirect disposition of, or investment in, the Project. If the Option is terminated due to a material breach thereunder by Cerrado or Serra Alta, then the Signing Loan (to the extent it remains owing), all Consideration paid by Amarillo Mineração to Cerrado on or prior to such termination, and other expenses of Amarillo Mineração, shall be due and payable by Cerrado to Amarillo Mineração.
Asesores y consejeros
Hochschild and Amarillo Mineração are being advised by RBC Capital Markets as financial advisor, Stikeman Elliott LLP as Canadian legal counsel, Bichara Advogados as Brazilian legal counsel, and Linklaters LLP as UK legal counsel in connection with the Transaction.
_____________________________________________________________________________________
Consultas:
PLC de minería Hochschild
Charlie Gordon +44 (0)20 3709 3260
Responsable de relaciones con los inversores (Head of Investor Relations)
hudson sandler
charlie jack 44 0 207 796 4133
Relaciones Públicas
_____________________________________________________________________________________
RBC Capital Markets 44 0 207 653 4000
Asesor Financiero
James Agnew
Hugh Samson
_____________________________________________________________________________________
Acerca de Hochschild Mining PLC
PLC de minería Hochschild es una empresa líder en metales preciosos que cotiza en la La Bolsa de Londres (HOCM.L / HOC LN) y operaciones cruzadas en el Mejor Mercado OTCQX de EE. UU. (HCHDF), con un enfoque principal en la exploración, minería, procesamiento y venta de plata y oro. Hochschild tiene más de cincuenta años de experiencia en la minería de depósitos de vetas epitermales de metales preciosos y opera dos minas subterráneas de vetas epitermales: Inmaculada, ubicada en el sur de Perú; y San José en el sur de Argentina, y una mina de oro a cielo abierto, Mara Rosa, ubicada en el estado de Goiás, Brasil. Hochschild también tiene numerosos proyectos a largo plazo en todo el continente americano.
LEI: 549300JK10TVQ3CCJQ89
________________________________________________________________________________________
Declaraciones prospectivas
Ciertas declaraciones contenidas en este anuncio que no son hechos históricos pueden ser declaraciones "prospectivas". Estas declaraciones prospectivas están sujetas a una serie de riesgos e incertidumbres, muchos de los cuales están fuera del control de la Compañía y todos se basan en las creencias y expectativas actuales de la Compañía sobre eventos futuros. Las declaraciones prospectivas generalmente se identifican mediante el uso de terminología prospectiva como "cree", "espera", "puede", "podrá", "debería", "pretende", "estima", " "planea", "asume" o "anticipa" o lo negativo de los mismos u otras variaciones de los mismos o terminología comparable, o por discusiones de estrategia que involucran riesgos e incertidumbres. Además, de vez en cuando, la Compañía o sus representantes han hecho o pueden hacer declaraciones prospectivas de forma oral o escrita. Además, dichas declaraciones prospectivas pueden incluirse, entre otras, en comunicados de prensa o declaraciones orales realizadas por o con la aprobación de un funcionario ejecutivo autorizado de la Compañía. Estas declaraciones prospectivas y otras declaraciones contenidas en este anuncio sobre asuntos que no son hechos históricos implican predicciones. No se puede dar ninguna seguridad de que se lograrán tales resultados futuros; Los eventos o resultados reales pueden diferir materialmente como resultado de los riesgos e incertidumbres que enfrentan la Compañía y sus subsidiarias. Dichos riesgos e incertidumbres podrían hacer que los resultados reales varíen materialmente de los resultados futuros indicados, expresados o implícitos en dichas declaraciones prospectivas.
Las declaraciones prospectivas reflejan el conocimiento y la información disponibles en la fecha de preparación de este anuncio. Salvo que lo exijan las leyes aplicables y/u obligaciones regulatorias, la Compañía no asume ninguna obligación de actualizar o cambiar ninguna declaración prospectiva para reflejar eventos que ocurran después de la fecha de este anuncio. Nada en este anuncio pretende ser un pronóstico o estimación de ganancias para ningún período y ninguna declaración en este anuncio debe interpretarse en el sentido de que las ganancias o ganancias por acción o ingresos, el flujo de efectivo de las operaciones o el flujo de efectivo libre para la Compañía para el presente o ejercicios futuros necesariamente igualarían o excederían las ganancias históricas publicadas o las ganancias por acción o ingresos, el flujo de efectivo de las operaciones o el flujo de efectivo libre de la Compañía.
- termina -
RNS puede usar su dirección IP para confirmar el cumplimiento de los términos y condiciones, para analizar cómo interactúa con la información contenida en esta comunicación y para compartir dicho análisis de forma anónima con otros como parte de nuestros servicios comerciales. Para obtener más información sobre cómo RNS y la Bolsa de Valores de Londres utilizan los datos personales que nos proporciona, consulte nuestra Política de privacidad.