San Francisco Office Represents Avino in Mining Property Acquisition From Coeur Mining

San Francisco, Calif. (November 4, 2021) - San Francisco Partner Daniel B. Eng recently advised Avino Silver & Gold Mines Ltd. in the acquisition of the La Preciosa mining property located in Durango, Mexico from  Coeur Mining, Inc. The La Preciosa mining property is a development stage mineral property that hosts one of the largest undeveloped primary silver resources in Mexico and is adjacent to Avino’s existing operations in Durango, Mexico. 

The purchase price consists of $20 million in cash and notes; 14 million of units consisting of one common share and one-half of a common share purchase warrant of Avino; $8.75 million upon initial production at La Preciosa mineral property; and a 2% gross value royalty on certain areas of the La Preciosa mineral property.

Many strategic, financial, and operational advantages are expected to emerge from this acquisition, including (1) creating operational synergies due to the close proximity of Avino and La Preciosa’s locations, (2) reducing the environmental footprint associated with the future development of La Preciosa, (3) increasing Avino's silver resource base, (4) elevating Avino's potential as a silver producer and developer, and (5) enhancing Avino's land position in Durango, among others.

Mr. Eng is a member of Lewis Brisbois’ Corporate Practice. He represents companies in a variety of general corporate matters, public and private offerings (equity and debt), mergers and acquisitions, cross-border transactions and finance matters, and strategic alliances. His clients include exploration and mining companies, as well as organizations in the hospitality, technology, manufacturing, medical and pharmaceutical, retail, and financial industries.

Learn more about the transaction here.