The JV company was formed for the purpose of holding, operating, running and mining the existing and future exploration, extraction, transport and benefit concessions encompassing the Santa Rosa gold mine, located in Canazas, Panama.
Golden Phoenix, which will be the manager of the JV company, will have the powers and management responsibilities for all operational aspects of the JV company.
Silver Global will be responsible for handling all social programs, political and community relations, and human resource matters within Panama.
Golden Phoenix will earn-in to a 60% interest (and potentially up to an 80% stake) in the Santa Rosa gold mine through its acquisition of share capital in the JV company.
