In this company update, we are joined by Andrew Thomson, President and CEO of Palamina Corp (TSX.V: PA | OTCQB: PLMNF). With a vast portfolio of high-grade assets in Peru, Palamina is currently undergoing a strategic spin-out of its silver-copper projects.
Andrew provides a comprehensive look at the creation of Cult Silver, the upcoming drill programs at the flagship Usicayos gold project, and why the shifting jurisdictional climate in Peru is creating a “sea change” for resource explorers.
Key Discussion Points:
- The Cult Silver Spin-Out: A detailed breakdown of the transaction involving seven silver-copper projects, including the share distribution ratio (1 Cult Silver share for every 3 Palamina shares held) and the $2.75 million financing currently underway.
- Galena Silver District Strategy: Why the company is prioritizing the Galena property, located in the same trend as the massive Berenguela deposit, with plans to be drill-ready by August.
- Usicayos Gold Project Update: Progress on the essential road construction and the timeline for drilling high-grade gold targets in late summer.
- Peru’s Jurisdictional Shift: Observations on the improving permit reliability and the migration of capital back to Peru as security and permitting challenges persist in neighboring Mexico.
- Portfolio Management: Plans for the remaining six gold assets within Palamina, including ongoing joint venture negotiations in the Puno Orogenic Gold Belt.
If you have any follow up questions for Andrew please email me at Fleck@kereport.com.
Click here to visit the Palamina website to learn more about the Company.
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