Consil Completes Restructuring

ConSil Corp., primarily owned by Hecla Mining Co. of Coeur d’Alene, has completed its restructuring into a company that looks to buy promising silver projects in Mexico.

ConSil previously owned silver properties in Idaho’s Silver Valley. Under the agreement finished Wednesday, ConSil buys the assets of Minas La Colorada S.A. de C.V.

The assets of that company are two producing silver mines and several former producing silver mines in Zacatecas, Mexico. ConSil plans to expand the production capabilities of these mines to produce about 2 million ounces of silver a year.

Exploration at the mines could bring the company’s annual silver yield up to 4 million ounces each year. Hecla, for example, produced 2.2 million silver ounces in 1995.

Under the agreement, ConSil will grant Hecla the right to participate in any project where ConSil seeks a partner.

ConSil will hold the assets of Minas La Colorada in a subsidiary called Puente De Plata S.A. de C.V. The sole owners of Minas La Colorada, Jaime Gutierrez and Ramon Davila, will receive 4 million shares of ConSil stock previously owned by Hecla.

, DataTimes