Peru is one of the world’s top producers of gold and silver and the current supply-to-demand curves for gold and silver suggest strong pricing for the next few years.

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Echo has a shareholders joint venture agreement regarding a 50:50 joint venture company in Peru with the founding partners of Boku Resources SAC to participate in the interests of Boku, which includes gold and silver mining through the Tesoro gold concession and the cleaning of known tailings deposits containing gold and silver in the Huaraz region.

Through Boku, Echo has secured an opportunity to scale operations in Peru, with experienced local partners, producing gold and silver through primary mining and tailings cleaning, owning 50% of the production and potential resources.

Boku Operation

Echo has established the trading joint venture in Peru using a tax and legally optimised structure to ensure Echo retains effective control of Boku and that funds can flow to its shareholders. Operationally, Boku will be led by Erick Pegot-Ogier as Managing Director, who will provide on-the-ground local expertise through logistics and project management. Echo will not incur any project acquisition costs and will contribute the initial start-up and working capital necessary to achieve first production in Q4 2024.