Great Panther inks LOI to sell Coricancha mine

Cash-strapped precious metals miner Great Panther Mining has signed a nonbinding letter of intent (LoI) with Newrange Gold to sell its Coricancha mine, in Peru, for $750 000 in cash.

Coricancha, located in the central Andes, about 90 km east of Lima, is a past-producing mine. It is currently on care-and-maintenance and includes an operational 600 t/d mill, an underground mine and supporting infrastructure.