Magellan to close deal |

Magellan to close deal

Magellan Gold Corp. said its purchase of the SDA Mill, in Nayarit State, Mexico, from Rose Petroleum PLC is on track to close by the end of October. The SDA Mill is a mineral processing plant and includes all associated assets, licenses and agreements.

Magellan and Rose announced the execution of a definitive purchase agreement on Sept. 11, and Rose obtained its shareholder approval required for the sale on Sept. 18, with the final major item being restructuring of Mexican ownership of the SDA Mill.