In May 2019, the company completed a 4:1 share consolidation, and changed its name from Centenera Mining Corporation to Latin Metals Inc. In June 2019, the company raised $3.10 million at $0.125 per share. No free warrants were offered in the financing.
Our discussions with management indicated that they are actively evaluating projects in Peru.
Management intends to follow a prospect generator / joint venture (“JV”) model to advance its projects.
Work in 2019 at the Organullo gold project (fully funded by partner Yamana Gold / TSX: YRI), included mapping, rock / soil sampling, and re-logging of historical drill core. Rock samples returned values of up to 8.94 g/t gold. Overall, the program resulted in the identification of geochemical anomalies over an 8 km strike. A 3,300 m / 16 hole drill program is currently underway.
In August 2019, the company entered into an agreement with Patagonia Gold Corp. (TSXV: PGDC), wherein Patagonia can acquire Latin’s interest in the Mina Angela project in Chubut, Argentina for US$1 million cash . Latin will retain a 1% NSR royalty. Patagonia has six months to make a decision.
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