June 27, 2016 / 5:11 AM / 2 years ago

BRIEF-Nyrstar sells El Toqui mine for $25 million to Laguna Gold Limited

June 27 (Reuters) - Nyrstar NV :

* Sale of the El Toqui mine for a total cash consideration of USD 25 million and price participation

* Entered into a share purchase agreement to sell its El Toqui mine in Chile to Laguna Gold Limited

* Consideration payable to Nyrstar consists of USD 12 million payable in cash by closing of transaction and USD 13 million in milestone cash payments over a four year period following closing of transaction

* Transaction is part of formal sale process for all or majority of Nyrstar’s mining assets which was formally launched in January 2016

* Nyrstar and Laguna have also agreed to enter into an off-take agreement in which Laguna will sell to Nyrstar 100 pct of zinc concentrate production from El Toqui for four years

* Laguna will sell to Nyrstar 85 pct of zinc concentrate production thereafter Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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