Latest news with #Americas-focused
West Australian
2 days ago
- Business
- West Australian
EV Resources locks in historical antimony project in Mexico
EV Resources has officially sealed a 70 per cent stake in its high-grade Los Lirios antimony mine in Oaxaca, Mexico. The company now aims to fast-track the critical minerals project towards mine development thanks to a string of recent value-accretive project divestments. The company has executed a binding assignment of mining rights over the 1552-hectare project, which includes three mining concessions. The three historic open pits and multiple underground workings previously churned out commercial-grade direct shipping ore (DSO). EVR owns 70 per cent of a new joint venture entity that holds the project. It will now look to leverage proceeds from several recent shrewd divestments to fast-track development at Los Lirios, positioning itself to capitalise on an skyrocketing antimony market amid global, Chinese-controlled supply constraints. EVR will now steer the ship at Los Lirios, providing management and capital to ramp up production to a targeted 300 tonnes DSO per day. The company is wasting no time, with 30-kilogram samples already undergoing ore characterisation and mineralogy analysis. It expects to soon receive the results. The samples will feed into recovery test work focused on gravity methods, which have proven effective for antimony in Mexico. EVR is also in talks with owners of permitted plant sites to establish a pilot processing plant. Its aggressive timeline will look to cash in on its staggeringly high-grade ore, which includes stockpile assays as high as 29.17 per cent stibnite – the primary antimony sulphide ore. Fuelling this ambitious push are the proceeds from the company's recent portfolio rationalisation, including the recent blockbuster sale of its Yanamina gold-silver project in Peru to TSX-listed Daura Gold for up to US$6 million (A$9.3M). Similarly, EVR recently disposed of its Coyote Creek antimony project in Utah to Trigg Minerals for a handy $450,000 in cash and shares, delivering a tidy profit on an asset acquired for less than $150,000 just one month earlier. The sale of the La Cienega copper project in Arizona to Magnum Mining and Exploration, with a 2 per cent royalty on future production, further bolsters the company's future earnings potential. The savvy divestments have armed EVR with a war chest to accelerate development at Los Lirios and its Parag copper-molybdenum porphyry project in Peru. The company's strengthened cash position allows it to fund critical exploration and development activities, including sampling, trenching and drilling programs, which are set to kick off at Los Lirios early next year. EVR is eyeing strategic partnerships to unlock Parag's massive porphyry-style potential, after a previous drilling program delivered some eye-popping molybdenum intersections such as 18 metres running 1.7 per cent copper and 0.4 per cent moly from just 11m. As Los Lirios shapes up as a cornerstone asset for the company's Americas-focused strategy, EVR can now channel its divestment proceeds to fast-track its antimony supply. That could also help relieve the unprecedented market pressure pushing the price of the critical metal to a massive US$60,000 (A$92,000) per tonne. Is your ASX-listed company doing something interesting? Contact:
Yahoo
06-06-2025
- Business
- Yahoo
Pan American Silver Hits 52-Week High: How to Play the Stock?
The Pan American Silver Corp. PAAS stock hit a 52-week high of $28.88 yesterday before closing the session a tad lower at $28.60. The stock jumped 7.6% yesterday, fueled by silver prices climbing above $36 per ounce, the highest levels since February 2012. The rise was driven by soft U.S. economic data and a dovish stance from the Federal Reserve, boosting safe-haven demand. The rally lifted other silver miners as well, with Endeavour Silver Corp. EXK and Hecla Mining Company HL gaining 7.6% and 5.6%, respectively, yesterday. Year to date, PAAS shares have gained 41.5%, outpacing the industry's 26.1% growth. In comparison, the Basic Materials sector has risen 9.2%, while the S&P 500 has inched up 0.9%. Image Source: Zacks Investment Research Pan American Silver has also outscored Endeavour Silver's and Hecla Mining Company's year-to-date gains of 31.4% and 24.4%, respectively. Image Source: Zacks Investment Research Image Source: Zacks Investment Research The Pan American Silver stock is trading above its 50-day and 200-day moving averages, indicating solid upward momentum and price stability. This reflects a positive market sentiment and confidence in the company's financial health and long-term prospects. While this rally may tempt investors to jump in, it is important to assess the underlying drivers and its sustainability, as well as the company's growth prospects and potential risks, before making any investment decision. Solid Trend in Silver & Gold Prices: Silver prices have gained 25% year to date, supported by several factors like rising economic and geopolitical uncertainties, as well as solid demand amid expectations of a tight supply. Gold has also rallied 28% year to date, riding on the escalating tariff tensions and geopolitical uncertainties. Weak U.S. economic data lifted both gold and silver safe-haven demand, pushing silver to $36.20 and gold to around $3,370 per ounce. Per the Silver Institute, the silver market is expected to record another deficit in 2025 (117.6 million ounces) for the fifth consecutive year, which bodes well for silver prices. This demand-supply imbalance holds good for gold. Apart from this, gold prices are likely to continue to gain, aided by increased purchases by central banks, hopes of interest rate cuts and geopolitical tensions. Pending Acquisition of MAG Silver: Pan American Silver recently inked a deal to acquire MAG Silver Corp. MAG for $2.1 billion. Through this move, PAAS will gain access to the large-scale, high-grade Juanicipio mine in Mexico, in which MAG Silver has a 44% stake. The company sees growth opportunities through the significant exploration potential at Juanicipio, as well as MAG Silver's Deer Trail and Larder deal, expected to close in the second half of 2025, will position Pan American Silver as a leading Americas-focused silver producer. It will add 58 million ounces of silver to its proven and probable reserves. Juanicipio is expected to produce 14.7-16.7 million ounces of silver in 2025 (or 6.5-7.3 million ounces on a 44% basis). It is expected to generate a free cash flow of $200 million in 2025 (on a 100% basis). Solid Q1 Results: PAAS witnessed a 28.6% year-over-year increase in revenues to $773 million, attributed to higher gold and silver prices. Lower costs and higher metal prices resulted in a record $250.8 million in mine operating earnings and $112.6 million in free cash flow. Adjusted earnings per share were 42 cents, a significant improvement from earnings of 1 cent in the year-ago quarter. Stronger Output Expected in 2H25: Silver production was 5 million ounces and gold output was at 182.2 thousand ounces in the first quarter. The company remains on track to meet its 2025 guidance of 20-21 million ounces of silver and 735,000-800,000 ounces of gold, with output expected to rise in the second half of the year. Silver production is anticipated to ramp up as mining moves to higher-grade ore zones at Cerro Moro. Gold output is also forecast to climb later in the year, supported by higher grades at Cerro Moro and Minera Florida; increased throughput at Minera Florida; and leach sequencing at Shahuindo, resulting in higher recovery rates. The Zacks Consensus Estimate for Pan American Silver's earnings for 2025 and 2026 has moved up 20% and 11%, respectively, over the past 90 days. (Find the latest earnings estimates and surprises on Zacks Earnings Calendar.) Image Source: Zacks Investment Research The consensus mark for 2025 earnings is pegged at $1.47, suggesting a year-over-year surge of 86%. The estimate for 2026 of $1.89 indicates an increase of 28.7%. Image Source: Zacks Investment Research PAAS has solidified its position as a leading precious metal producer in the Americas with a diversified asset base. The company has been rationalizing its portfolio following the Yamana acquisition (in 2023), strategically investing in its producing mines while advancing organic opportunities. Notable achievements include ventilation upgrades at its La Colorada silver mine in Mexico, which enabled a 51% increase in silver production and an 18% reduction in all-in-sustaining costs (AISC) in the second half of 2024 compared with the first half. PAAS completed the construction of a new filter plant and filter-stack tailings storage facility at its Huaron mine in Peru, providing additional capacity while enhancing environmental performance. At the Timmins operation in Canada, the company completed the construction of a paste backfill plant at the Bell Creek mine. That plant is now fully operational and is expected to provide enhanced ground stability and increased mineral resource recovery. Pan American Silver remains focused on progressing initiatives to further increase shareholder value, including the optimization study for Jacobina and the development of the La Colorada Skarn. Pan American Silver owns the Escobal mine in Guatemala, which is regarded as one of the world's top silver assets. Prior to its suspension in 2017, the mine delivered three consecutive years of annual output of around 20 million ounces, with AISC below $10 per ounce. Operations were halted following a ruling by Guatemala's constitutional court, which mandated that the ministry of energy and mines complete an ILO 169 consultation with the Xinka indigenous people before reinstating the mining license. Escobal remains on care and maintenance, with no clear timeline for the consultation's conclusion or a potential restart of operations. PAAS is currently trading at a forward 12-month price-to-earnings multiple of 17.45X, a premium to the industry average of comparison, Endeavour Silver offers a more discounted valuation at 14.65X. Meanwhile, Hecla Mining trades at a much higher multiple of 38.26X. Pan American Silver is well-positioned to capitalize on the ongoing rally in gold and silver prices, along with its strong production outlook. The planned acquisition of MAG Silver and continued investment in growth initiatives strengthen its long-term prospects. However, uncertainty around the restart of the Escobal mine remains a risk. Existing shareholders may consider holding their positions to benefit from PAAS's long-term potential and exposure to precious metals. Given the stock's premium valuation, new investors may prefer to wait for a better entry point. The stock's Zacks Rank #3 (Hold) supports our thesis. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Hecla Mining Company (HL) : Free Stock Analysis Report Pan American Silver Corp. (PAAS) : Free Stock Analysis Report Endeavour Silver Corporation (EXK) : Free Stock Analysis Report MAG Silver Corporation (MAG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Pan American Silver to acquire MAG Silver in $2.1bn deal
Pan American Silver has signed a definitive agreement with MAG Silver to acquire all its issued and outstanding common shares via a court-approved plan of arrangement for a total consideration of approximately $2.1bn. Under the transaction, MAG shareholders will receive $500m in cash from Pan American's $923m cash balance and 0.755 Pan American shares for each MAG share. The offer represents a 21–27% premium over the closing and 20-day volume-weighted average price of MAG's shares as of 9 May 2025. Post-transaction, Pan American is expected to issue an aggregate of 60 million common shares to MAG shareholders, while MAG shareholders will hold roughly 14% of Pan American's fully diluted shares, gaining exposure to a more diversified and growth-focused silver and gold producer. The acquisition will integrate MAG's 44% interest in the high-grade Juanicipio silver mine in Zacatecas, Mexico, into Pan American's portfolio. Fresnillo owns the remaining 56% stake in the Juanicipio joint venture. The mine is expected to produce between 14.7 million ounces (moz) and 16.7moz of silver in 2025. The transaction will also bolster Pan American's position as one of the world's leading silver producers and boost the company's free cash flow generation, while delivering significant exploration upside potential. Pan American president and CEO Michael Steinmann said: 'Our acquisition of MAG brings into Pan American's portfolio one of the best silver mines in the world. Juanicipio is a large-scale, high-grade, low-cost silver mine that will meaningfully increase Pan American's exposure to high margin silver ounces. 'Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG's Deer Trail and Larder properties. This strategic acquisition further solidifies Pan American as a leading Americas-focused silver producer.' For MAG shareholders, the deal offers de-risking benefits, financial strength, increased liquidity and expanded market presence. MAG's directors and executive officers have agreed to vote in favour of the deal, which is expected to close in the second half of 2025, subject to customary conditions and regulatory approvals. MAG president and CEO George Paspalas said: 'Through the acquisition of our interest by Pan American – a respected leader in the global precious metals industry – our shareholders will participate in an exciting future defined by operational excellence, substantial exploration potential and strong financial stewardship with significant portfolio exposure.' In October 2024, Unico Silver completed the acquisition of the Joaquin Silver District in Argentina from Pan American Silver. "Pan American Silver to acquire MAG Silver in $2.1bn deal" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
12-05-2025
- Business
- Yahoo
Minaurum Announces Engagement of Marketing Firms
Vancouver, British Columbia--(Newsfile Corp. - May 12, 2025) - Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) ("Minaurum" or "the Company") is pleased to announce that it has entered into agreements with Capital Analytica ("Capital") and National Inflation Association ("NIA") to provide marketing and communications services. The agreement with Capital has an initial term of 3 months commencing on May 12, 2025 under which the Company will pay Capital an aggregate of $60,000 and is subject to renewal. The services will include social media consultation, social sentiment reporting, social engagement reporting, corporate video dissemination, news release dissemination, and marketing communications services. Capital and its principal are arm's length to the Company and, as of the date hereof, to the Company's knowledge, Capital does not own any securities of the Company. The agreement with NIA has an initial term of 3 months commencing on May 12, 2025 under which the Company will pay NIA an aggregate of US$30,000 and is subject to renewal. The services will include the distribution of the Company's activities through NIA's email distribution lists, website and blog posts. NIA and its principal are arm's length to the Company and, as of the date hereof, to the Company's knowledge, NIA does not own any securities of the Company. The Capital Agreement and the NIA Agreement are subject to TSX Venture Exchange approval. Follow us and stay updated: YouTube: @minaurumgoldLinkedIn: to our email list at Minaurum Gold Inc. (TSXV: MGG) (OTCQX: MMRGF) (FSE: 78M) is an Americas-focused explorer concentrating on the high-grade 100% owned, production-permitted Alamos silver project in southern Sonora, Mexico and a portfolio of district-scale projects in Mexico. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value by acquiring and developing a pipeline of Tier-One precious-and base metal projects. ON BEHALF OF THE BOARD "Darrell A. Rader" Darrell A. RaderPresident and CEO For more information, please contact:Sunny Pannu – Investor Relations and Corporate Development Manager(778) 330 0994 or via email at pannu@ The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release. ___________________________________________________________________________ 1570- 200 Burrard Street Telephone: 1 778 330-0994Vancouver, BC V6C 3L6 info@ Cautionary Note Regarding Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. In making the forward-looking information in this release, Minaurum has applied certain factors and assumptions that are based on Minaurum's current beliefs as well as assumptions made by and information currently available to Minaurum. Although Minaurum considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking information in this release is subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. Minaurum does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by law. To view the source version of this press release, please visit
Yahoo
12-05-2025
- Business
- Yahoo
Pan American Acquires MAG For $2.1 Billion
Pan American Silver Corp. (NYSE:PAAS) and MAG Silver Corp. (AMEX:MAG) disclosed a definitive deal for Pan American to acquire MAG Silver's shares through a plan of arrangement. As per the deal, MAG shareholders will receive approximately $2.1 billion ($20.54 per MAG share based on PAAS's May 9, 2025 NYSE closing price) in a mix of $500 million cash and 0.755 PAAS shares per MAG share (subject to proration). This represents ~21% and ~27% premiums to MAG's May 9, 2025 NYSEAM closing price and 20-day VWAP, MAG shareholders will own ~14% of the enlarged, diversified Pan American, gaining exposure to a larger silver and gold producer. The acquisition significantly enhances Pan American's value by adding a 44% stake in Juanicipio, a premier, low-cost, high-grade silver mine in Mexico with substantial exploration potential, operated by Fresnillo. This is expected to add forecasted production of 6.5-7.3 Moz of silver to Pan American Silver in 2025 and 58 Moz proven and probable reserves, 19 Moz measured and indicated resources, and 35 Moz inferred resources. Notably, Juanicipio's high-margin ounces, with projected 2025 cash costs of ($1.00)-$1.00/oz and all-in sustaining costs of $6.00-$8.00/oz, are a logical fit within Pan American's Americas-focused silver portfolio. The MAG acquisition should significantly boost Pan American's 2025 free cash flow (+$98 million pro forma) and offer significant exploration upside (Juanicipio, Deer Trail, Larder), strategically deploying $500 million of PAAS's cash for increased silver exposure and growth. Michael Steinmann, President and CEO of Pan American, said, 'Juanicipio is a large-scale, high-grade, low-cost silver mine that will meaningfully increase Pan American's exposure to high-margin silver ounces. Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG's Deer Trail and Larder properties. This strategic acquisition further solidifies Pan American as a leading Americas-focused silver producer.' As of March 31, PAAS' cash and short-term investments stood at $923.0 million. Price Action: PAAS shares are down 7.24% to $25.24, while MAG shares are up 13% to $19.12 premarket at the last check on Monday. Image via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Pan American Acquires MAG For $2.1 Billion originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
