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Unico Silver Secures Land in Argentina in $12 Million Deal

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Unico Silver (ASX:USL) struck a deal to acquire the La Mata estancia rural property in Argentina for $12 million, securing about 10,172 hectares of freehold land for infrastructure to develop its Joaquin silver-gold project, according to a Thursday filing with the Australian bourse.

The consideration includes $3.5 million in cash payable within 10 business days of closing, $2.5 million worth of Unico Silver ordinary shares, and three deferred cash payments of $2 million each, payable across three years following closing.

The acquisition replaces the historical 2017 Pan American Silver surface rights arrangements, which comprised about 1,250 hectares, the company said.

Unico Silver shares gained 2% in recent Thursday trade.

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