Junior Miner Enters LOI To Acquire Mongolian Coal Mines

With extensive legal, financial, technical experience this junior miner has plans to double assets under management in 2022 and transform to a pure silver mining and exploration company.
Silver Elephant Mining Corp. (TSX:ELEF) and Battery Metals Royalties Corp. entered into a binding letter of intent where Battery proposes to acquire a 45% equity interest of Silver Elephant’s wholly owned Mega Thermal Coal Corp. Per the company’s press release, Mega Thermal owns and operates the Ulaan Ovoo and Chandgana thermal coal mines in Mongolia.
The company’s believe that the transaction will enable Silver Elephant to benefit from Battery’s nickel, vanadium, and coal royalty and equity holdings and provide Silver Elephant shareholders direct participation in thermal coal by receiving Mega Coal shares.
Shares of Silver Elephant closed at $1.27 on Friday.