Unico Silver Secures Strategic Land for Joaquin Development
Key points
- Binding agreement to acquire La Mata estancia securing 10,172 hectares of land
- Acquisition includes Mineral Resources, infrastructure locations, and exploration upside
- Initial cash consideration of US$3.5m funded from existing cash reserves
Full summary
Unico Silver Limited (ASX: USL) has entered into a binding agreement to acquire a 100% interest in the La Mata estancia, securing approximately 10,172 hectares of strategically located freehold land for the Joaquin silver-gold project. The acquisition includes the La Morocha and La Negra Mineral Resources, proposed infrastructure, and significant exploration potential. The transaction replaces the 2017 Pan American Silver surface rights arrangement with permanent ownership, providing greater flexibility for development. The total purchase consideration is US$12.0 million, with US$3.5 million paid in cash from existing reserves.
Guidance
Initial cash consideration of US$3.5m funded from existing cash reserves of A$62.7m as of March 2026 quarter
Outlook
The acquisition is expected to significantly de-risk the Joaquin Pre-Feasibility Study (PFS) and future project development.
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