Toronto-based
The company is to receive US$120,000 in cash from the unnamed buyer and will remove itself from certain liabilities. In addition, Santa Cruz has received a $900,000 tax refund from the Mexican government.
The sale follows on the heels of a proposed merger with
Santa Cruz remains active in Mexico through its Magistral gold property in the western state of Sinaloa. A feasibility study on that project, to begin in the next few months, will focus on a 35,000-oz.-per-year mine.
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