Mr. Alain Lambert, Chairman and C.E.O. of Cyprium stated: "We are proud to form this partnership with Daniel Valenzuela, a third generation miner of the Potosi silver mine and operator of the San Guillermo plant. The mine operated continuously for over thirty-four years before it closed in 1991 when commodity prices were low and a labour dispute lead to a strike. The Potosi Partners have successfully, but inconsistently, carried out small scale production between 1991 and 2012. Together, we will restart mining operations at Potosi and San Guillermo."
Mr. Lambert concluded: "When I was appointed CEO of Cyprium in May 2015, I was very clear about the number one strategic imperative for our company: to secure medium to long-term supply of mineralized material with acceptable head grades from nearby mines to fill up the capacity of the Cyprium operated processing plant in Aldama, Mexico. The Joint Venture also meets another strategic imperative we had set at the time: the acquisition or co-participation of existing mines and/or plants where we can deploy our financial resources and technical expertise for the benefit of our shareholders. Needless to say, the transaction announced today goes a long way towards meeting those priorities. The combination of owning the rights to an existing operating plant and a historic silver mine, especially of the scale of Potosi, is quite a unique proposition for a junior mining company."
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