You are here
Coeur Mining to buy Canadian precious metals miner SilverCrest Metals for $1.7 billion
By Niall McGee
The Globe and Mail, Toronto
Friday, October 4, 2024
Coeur Mining Inc. is buying Vancouver-based SilverCrest Metals Inc. in a US$1.7-billion all-stock deal that should see the American precious metals producer increase its cash flow considerably and cut its high debt load.
Chicago-based Coeur announced today it is paying 1.6022 of its shares for each SilverCrest share, or US$11.34 a share. The deal price is a 22% premium to SilverCrest’s closing price on Thursday on the New York Stock Exchange.
... Dispatch continues below ...
... ADVERTISEMENT ...
Power Nickel Announces Biggest Intersection Yet, Making Major Advancements at the Lion Zone
Company Announcement
Thursday, October 3, 2024
TORONTO -- Power Nickel Inc. (TSXV: PNPN, OTCBB: PNPNF) announces the second set of assay results obtained for three more holes of the summer 2024 drilling campaign at its polymetallic Lion Zone discovery.
"With one of our best holes to date, it is becoming more evident that the Lion discovery is substantially bigger than we originally envisioned," CEO Terry Lynch said. "Taking education from the holes drilled and announced earlier this week, we went further west and much shallower and struck the zone at 118 meters. This is very encouraging for lots of reasons: size of zone, grade, depth of intersection, and the move westward."
Highlights:
PN-24-069 returned:
-- 17 meters of 0.28 g/t Au, 9.52 g/t Ag, 0.93 % Cu, 7.19 g/t Pd, 1.66 g/t Pt and 0.05% Ni, including 6 meters of 0.42 g/t Au, 19.33 g/t Ag, 0.96 % Cu, 11.68 g/t Pd, 3.69 g/t Pt, and 0.04% Ni.
-- 5 meters of 0.35 g/t Au, 7.80 g/t Ag, 1.78 % Cu, 9.69 g/t Pd, 0.74 g/t Pt, and 0.09% Ni. ...
... For the remainder of the announcement:
https://pro.ceo.ca/@newswire/power-nickel-announces-biggest-intersection-yet-major
Silvercrest’s shares had already doubled in value over the past year and were trading not far from an all-time high. The company has performed extremely well owing to both the strong performance of silver and high margin production coming out of its main mine in Mexico.
SilverCrest's main asset is its underground Las Chispas silver and gold mine in Sonora Mexico, which went into production in 2022.
Cash flow from Las Chispas in combination with SilverCrest’s net cash position should allow heavily indebted Coeur to reduce its leverage considerably, the company said in a statement. SilverCrest is holding US$122-million on its balance sheet and has no debt. Coeur is holding about US$500 million in net debt. ...
... For the remainder of the report:
https://www.theglobeandmail.com/business/article-coeur-mining-silvercrest-metals-deal/
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, November 20-23, 2024
https://neworleansconference.com/powellgata/
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
