Arian Silver (LON:ACQ, CVE:ACQ) is focused on returning to growth, it said, as it revealed its settlement with Quintana is now finalised, sending shares soaring.
As reported last November, Arian was to settle outstanding debts by handing over its flagship San Jose project in Mexico to Quintana.
Quintana had previously paid US$650,000 to Arian in line with the deal and will now pay a further US$50,000 plus expenses to the AIM group.
As a result, Arian has no borrowings and positive net working capital of US$238,000.
Arian retains the San Celso, Calicanto and Los Campos projects along with 1,600 hectares of mining concessions.
Arian chief executive Jim Williams said: "We remain focused on a return to growth with the raising of funds, acquisition of additional mining concessions, and continuing of exploration activity."
Arian shares surged in London over 41% to stand at 2.125p.