Whitehorse Gold Corp. has changed its name to Tincorp Metals Inc., reflecting a “pivotal shift” in their focus towards its new Bolivian tin projects.
As their previous name suggests, the company’s past focus was North American gold. However, having built a team with a successful track record in Bolivia, Bolivian tin is the company’s new focus. “Tin is a critical element in global decarbonization, and Bolivia, in my opinion, is one of the best mining jurisdictions in the world” said Gordon Neal, CEO Tincorp Metals.
Agreements to acquire 100% of two prospective tin projects – San Florencio and Porvenir – were signed in August last year. The projects lie strategically between the tin producing Huanuni and Llallagua mines in the Ouruo Department. They have both been subject to small-scale historical mining, and more recent exploration.
The company has since closed the acquisition of San Florencio project in February 2023, prior to the company’s name change. Following the terms of the agreement, an initial payment to acquire 100% of the project to the vendors will be followed up with two further payments on the first and second anniversary of the signed agreement.
The full acquisition of the Porvenir project is still in progress. Having acquired 51% of the project upon signing the agreement in August, the company has the right to acquire the remaining 49% on the anniversary of the agreement (August 2023). Like the terms for San Florencio, a further payment will be paid to the vendors on the second anniversary of the agreement.
Upon the name change, there will be no change in the capitalization structure of the company.
Our view: This name change cements Tincorp Metals’ commitment to focus on its new tin projects. We look forward to continuing to track the progress of the two projects over the coming years.
Tincorp Metals Inc. are a member of ITA’s Explorers and Developers Group.