Auxico Resources Canada has signed an option agreement to sell its wholly owned Mexican subsidiary, Auxico Resources S.A. de C.V. (Auxico Mexico), to Concordia Silver Company (CSC), a privately-held mineral exploration company.
This decision aligns with Auxico’s objectives to strengthen its financial position and focus on its core assets.
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Under the terms of the option agreement dated 27 March 2025, CSC has a 60-day window to complete the acquisition of Auxico Mexico.
The total consideration for the sale is set at $666,666 (C$923,756), which is structured to be paid in two instalments.
An initial payment of $222,222 is due upon the execution of a definitive share purchase agreement, which will follow a due diligence period.
The remaining $444,444 is contingent upon the full reinstatement of the Mineral de Zamora mining concession (Title No. 225182) by the Mexican Mining Authority.
Upon the closure of the deal, CSC will inherit all the existing obligations tied to Auxico Mexico, including those related to the Zamora Property in Sinaloa, Mexico.
The transaction will enable Auxico to further develop its critical mineral projects in Colombia and Bolivia.
Auxico’s Minastyc Property in Vichada, Colombia, spans 188ha and holds both mineral and surface rights. It lies in a strategic critical minerals zone, with environmental and small-scale mining permits secured through 2040.
Sampling revealed rare earth elements, tin, tantalum, niobium and others, although no drilling or metallurgical testing has occurred.
Auxico’s past-producing El Benton Mine in Bolivia is located around 200km from Santa Cruz in Bolivia’s Ñuflo de Chávez province and covers 739ha.
In September 2023, Auxico entered into a memorandum of understanding to acquire an 85% interest in Empresa Minera El Benton, which owns the mining title and rights to the El Benton Mine and adjacent Monte Verde concessions in Bolivia.
