Vancouver based precious and base metals explorer and developer American Pacific Mining recently announced that they had put the finishing touches on a major agreement that had been in the works for the better part of a year.
American Pacific’s CEO Warwick Smith provided some more of the details on who they made that deal with and what they would get out of it;
“We did a transaction with a company by the name of Vizsla Copper, where they will take over the Palmer Project in Alaska. In return, we’ll receive $15 Million in equity in Vizsla Copper, along with an additional $15 Million in bonus payments for American Pacific as well.”
Smith also expressed his pleasure with how the transaction went down and excitement at American Pacific being a shareholder for the project.
Vizsla’s leadership team is also behind Skeena Resources, another BC based precious metals developer that they have helped increase the value of quite drastically.
Smith next explained how this agreement could end up influencing the Northwest, along with the rest of the province;
“These transactions, as you go through them, are good for the business in general. British Columbia has some of the best mining entrepreneurs in the world and typically, even if they’ve lived in other places, they will end up having some sort of influence within British Columbia. You see these transactions take place and the vast majority of the time, they are centred around British Columbia. And that is because a good source of the capital that goes into these, comes out of this BC network where we’re able to raise capital, list companies effectively and get good access to the other mining entrepreneurs around so that you can do transactions like these. It is something that is unique to Canada, particularly to BC.”
The future plans for American Pacific seems to potentially include deals of a similar nature, although more exact details on what they could look like are yet to be determined.