Golden Tag Resources Ltd (OTCMKTS:GTAGF) Stock In Focus After Receiving Mexican Antitrust Approval
Toronoto-based mineral resource exploration company, Golden Tag Resources Ltd (OTCMKTS:GTAGF) announced receiving approval from the Comisión Federal de CompetenciaEconómica, Mexico’s antitrust agency, for acquisition of the La Parrilla Silver Mine Complex. Additionally, First Majestic Silver Corp and Golden Tag have modified the Asset Purchase Agreement dated December 7, 2022, for reducing Golden Tag’s minimum required financing to $7.2 million.
Trading Data
On Tuesday, GTAGF stock ended flat at $0.1149 with more than 204K shares, compared to its average volume of 71.33K shares. The stock moved within a range of $0.0943 – 0.1150 after opening trade at $0.1000.
Golden Tag Receives Mexican Antitrust Approval and Provides Update on the Acquisition of La Parrilla
The company had announced earlier on the closing of two tranches of the non-brokered private placement financing with consolidated subscription receipts of $6.9 million. Golden Tag has also received more subscription commitment, which makes a total of $7.2 million when combined with the first two tranches.
The proposed Transaction will be subject to several conditions including approval by the Golden Tag shareholders as well as the creation of a new Control Person. The Mexican Senate approved mining law reforms recently but implementing regulations are still outstanding. Both First Majestic and Golden Tagare monitoring this development.
Golden Tag Resources has 100% interestin the San Diego Project, in Durango, Mexico. The property is amongst the biggest undeveloped silver assets in Mexico. It is in proximity to the prolific Velardeña Mining District, which has a number of mines producing silver, zinc, lead, and gold for over 100 years.
