Aftermath Buys Silver for $.12 an Ounce
If you are a silver bug, Aftermath just did a binding agreement on a project in Southern Peru with a silver 43-101 resource of 126 million ounces. They are paying about $14.5 million in total in USD with a tiny NSR on production. It comes with 771 million pounds of copper in a 43-101 resource for free.
Alternatively, if you are a copper nutcase rather than a silver nutcase, you can think of Aftermath paying $.02 a pound for a 771 million pound copper resource that comes with 126 million ounces of silver for free. That seems like a pretty good deal to me.
They are buying the project from SSRM. SSRM used to have the most wonderful name. They were called Silver Standard. How cool was that?
Some bright spark determined SSRM was a better name. Not all of the idiots in the world are in Portland and Seattle.
In any case, SSRM (gag me with a spoon) is selling the Berenguela project to Aftermath for $13 million USD in cash over a six-year period and $3 million CAD in Aftermath shares.
This is going to go down as the deal of the century for Aftermath. The whole reason for owning a silver/copper project in an environment of hyperinflation is that it will protect you against a collapse in the US dollar. I guess no one let SSRM know.
Aftermath is an advertiser. I am a shareholder. Do your own due diligence.
Aftermath Silver Ltd