Silver Mines Limited (ASX:SVL) (“Silver Mines”, “the Company”) is pleased to provide an update in regards to royalties applying to its 100%-owned Bowdens Silver Project, near Mudgee in central New South Wales.
Silver Mines has received notice from Ochre Group Holdings Ltd (“Ochre Group”) of a proposal to sell its historical 0.85% gross royalty over Bowdens and the wider project area to SilverStream SEZC (“SilverStream”). The proposed purchase consideration for the royalty is approximately A$3.03 million at current USD/AUD exchange rates.
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