Coeur closes Martha purchase

Coeur d’Alene Mines (CDE-N) has completed the purchase of the Martha silver mine in Argentina from Yamana Resources (YRI-T).

With the mine comes a 588-sq.-km land package in Santa Cruz province covering several epithermal-silver prospects.

Yamana gets US$2.5 million in cash and Coeur also takes a placement of 10 million warrants for Yamana shares, at US6 per warrant. The effect of the cash infusion is to make Yamana debt-free and pay off outstanding project financing for Martha, which was provided by Northgate Exploration (NGX-T).