Canadian Mining Journal


Electrum Group sees merit in Southern Silver’s Mexican project

Southern Silver Exploration (TSXV: SSV; US-OTC: SSVFF) likes to think that its Cerro Las Minitas silver-lead-zinc project in Durango, Mexico, has a lot going for it.

Not only is it close to a number of significant deposits – some of them producing mines and owned by some of the industry’s biggest names in the precious metals space – but the junior has also caught the eye of the Electrum Group, a privately owned natural resource investment management company founded by billionaire Thomas Kaplan.

Electrum is earning a 60% stake in the project and already owns about 46% of the junior’s shares. The New York-based investment group is well known for its investments in the mining sector, which over the years have included NovaGold Resources (TSX: NG; NYSE: NG), NovaCopper Inc. (TSX: NG; NYSE: NG), Wellgreen Platinum (TSX: WG; US-OTC: WGPLF), Victoria Gold (TSXV: VIT), and Kaminak (recently acquired by Goldcorp [TSX: G; NYSE: GG]).

But Southern Silver also has an illustrious pedigree of its own, with a significant track record in Mexico. Lawrence Page, who founded Southern Silver Exploration, was a director of Western Silver Corp. when that company was advancing the Peñasquito project in the years leading up to its 2006 merger with Glamis Gold, which was later acquired by Goldcorp. Peñasquito, 227 km east of Cerro Las Minitas, is currently Mexico’s largest gold producer.

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