en.Wedoany.com Reported - Goldgroup Mining Inc. has announced the completion of its acquisition of all shares of Molimentales del Noroeste, S.A. de C.V., following approvals from the TSX Venture Exchange and the Segundo Juzgado de Distrito para Asuntos de Quiebras Comerciales en México (Second District Court for Commercial Bankruptcy Matters in Mexico). The transaction was executed through a commercial bankruptcy process, enabling the company to gain control of the San Francisco Gold Mine in Sonora, free of any encumbrances or liabilities.

The San Francisco project, located 150 kilometers north of Hermosillo, comprises 13 mining concessions covering over 33,000 hectares. The project includes two open-pit mines (San Francisco and La Chicharra) and heap leach facilities, with well-established infrastructure. With all permits valid, the company expects to rapidly resume operational activities.

Goldgroup CEO Ralph Shearing described the acquisition as a transformative milestone. The company's strategy includes advancing infill drilling to optimize the mining plan, targeting a restart of gold production by late 2026 or early 2027. According to the NI 43-101 technical report published in May 2026, the asset holds measured and indicated resources of 1.226 million ounces and inferred resources of 178,000 ounces.

The financial restructuring involves absorbing debts to creditors and assuming royalty obligations to SA Targeted Investing Corp. (a subsidiary of Royal Gold). The agreement stipulates the delivery of 75 ounces of gold per month for 20 months following the restart of operations, followed by a 1% net smelter return royalty. The restart of the San Francisco mine will operate synergistically with the Cerro Prieto mine, consolidating Goldgroup's presence in Sonora while advancing the proposed merger with Gold Resource Corporation.

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