Xali Gold is nearing the acquisition of the Pico Machay gold project in Peru, bolstering its portfolio and expansion strategy in the mining sector.

Target Information

Xali Gold, a Canadian mining company, is progressing towards finalizing the acquisition of the Pico Machay gold project located in the Huancavelica province of Peru. This acquisition is a strategic move to enhance its portfolio within the Peruvian mining sector. The transaction has reached its concluding stages after successfully passing the necessary technical and legal reviews demanded by the Canadian stock exchange.

The company's communication highlights that the TSX Venture Exchange, which oversees junior mining companies in Canada, is concluding its approval process for this acquisition. All essential technical and legal aspects have been addressed satisfactorily, indicating that the closing of this Peruvian asset is imminent.

Industry Overview in Peru

Peru remains an attractive destination for foreign junior mining companies, particularly those focused on gold projects with potential for development. The