Latest news with #MAGSilverCorp
Yahoo
2 days ago
- Business
- Yahoo
Pan American Silver (PAAS) Delivers Stellar Q2
Pan American Silver Corp. (NYSE:PAAS) is one of the best Canadian gold stocks to buy according to hedge funds. On August 6, Pan American Silver Corp. reported strong unaudited Q2 2025 results, beating analyst expectations with adjusted EPS of $0.43 and revenue of $811.9 million. Copyright: alexis84 / 123RF Stock Photo The company posted record free cash flow of $233 million and ended the quarter with a cash balance of $1.1 billion. Pan American Silver Corp plans to invest $ 500 million of its free cash flow in the acquisition of MAG Silver Corp to gain access to the high-margin Juanicipio mine in Mexico. The mine is expected to contribute to free cash flow upon the transaction closing. Silver and gold production reached 5.1 million and 178.7 thousand ounces, respectively, with net earnings of $189.6 million. Pan American also raised its quarterly dividend by 20% to $0.12 per share and returned $103.5 million to shareholders through dividends and buybacks in H1 2025. The company repurchased 459,058 shares for $11.1 million and paid $36.2 million in Q2 dividends. With total liquidity of $1.86 billion and debt of $820.7 million, Pan American remains on track to meet its 2025 production and cost guidance, reinforcing its position as a leading silver investment. Pan American Silver Corp. (NYSE:PAAS) is a prominent mining company with operations spanning Canada, Mexico, Peru, Bolivia, Argentina, Chile, and Brazil. The company actively explores and produces silver, gold, zinc, lead, and copper across these regions. While we acknowledge the potential of PAAS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Top 10 Medical AI Companies to Buy According to Analysts. Disclosure: None. This article is originally published at Insider Monkey.
National Post
6 days ago
- Business
- National Post
Pan American Silver Reports Unaudited Second Quarter 2025 Results
Article content All amounts expressed in U.S. dollars unless otherwise indicated. Unaudited tabular amounts are in millions of U.S. dollars and thousands of shares, except per ounce amounts, unless otherwise noted. Article content VANCOUVER, B.C. — Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ('Pan American' or the 'Company') reports unaudited results for the quarter ended June 30, 2025 ('Q2 2025'). Article content 'Record free cash flow of $233.0 million in Q2 resulted in a record high cash balance of $1.1 billion at the end of the quarter,' said Michael Steinmann, President and Chief Executive Officer. 'We will invest $500.0 million of that cash as part of the consideration for our acquisition of MAG Silver Corp., with the high-margin Juanicipio mine in Mexico immediately contributing to free cash flow upon the transaction closing. Juanicipio is expected to increase our silver production by roughly 35% on annualized basis and meaningfully reduce all-in sustaining costs, while offering excellent exploration potential for future growth. This top-tier asset further positions Pan American as the leading investment name in the silver space.' Article content 'We are also pleased to announce a 20% dividend increase from $0.10 to $0.12 per common share with respect to Q2 2025. In conjunction with our share buyback program, we have returned approximately $103.5 million to our shareholders during the first half of 2025,' added Mr. Steinmann. 'Furthermore, we are on track to achieve our production and cost guidance for 2025.' Article content The following highlights for Q2 2025 include certain measures that are not generally accepted accounting principles ('non-GAAP') financial measures. Please refer to the section titled 'Alternative Performance (Non-GAAP) Measures' at the end of this news release for further information on these measures. Article content Consolidated Q2 2025 Results: Article content Silver production of 5.1 million ounces. Gold production of 178.7 thousand ounces. Revenue of $811.9 million. Record net earnings of $189.6 million, or $0.52 basic earnings per share, largely driven by record mine operating earnings of $273.3 million. Adjusted earnings of $155.4 million, or $0.43 adjusted earnings per share. Record cash flow from operations after non-cash working capital changes of $293.4 million, net of $68.3 million in cash taxes paid ($287.9 million before changes in non-cash working capital). Record free cash flow of $233.0 million. Sustaining capital of $60.4 million and project capital of $13.3 million. Silver Segment All-in Sustaining Costs ('AISC') (1) of $19.69 per silver ounce, excluding net realizable value ('NRV') inventory adjustments. Gold Segment AISC (2) of $1,611 per gold ounce, excluding NRV inventory adjustments. Cash and short-term investments increased by $186.2 million to a record $1,109.2 million. As at June 30, 2025, the Company had working capital of $1,310.5 million and $750.0 million available under its undrawn credit facility ('Credit Facility'). Total available liquidity was $1,859.2 million. Total debt of $820.7 million is primarily related to two senior notes, as well as certain lease liabilities and construction loans payable. The Company maintains its 2025 Operating Outlook, as previously provided in its Management's Discussion & Analysis ('MD&A') dated February 19, 2025. See the '2025 Operating Outlook' section of this news release for further detail. A cash dividend of $0.12 per common share with respect to Q2 2025 was declared on August 6, 2025, payable on or about August 29, 2025, to holders of record of Pan American's common shares as of the close of markets on August 18, 2025. During Q2 2025, the Company paid cash dividends to its shareholders totaling $36.2 million. The dividends are eligible dividends for Canadian income tax purposes. The declaration, timing, amount and payment of any future dividends remain at the discretion of the Company's Board of Directors. The Company repurchased for cancellation, 459,058 common shares in Q2 2025 at an average price of $24.22 per share for a total consideration of approximately $11.1 million. Article content (1) Silver Segment AISC is calculated net of credits for realized revenues from all metals other than silver and is calculated per ounce of silver sold. (2) Gold Segment AISC is calculated net of credits for realized revenues from all metals other than gold and is calculated per ounce of gold sold. Article content ESCOBAL MINE UPDATE Article content At Escobal, the Xinka Parliament ('XP'), as the representative of the Xinka Indigenous People, issued a statement and held a press conference in May 2025 with respect to the ILO 169 Consultation Process. In July 2025, the MEM delivered a response to the XP, describing the government proposals for overseeing the mining activities and the Company's proposals to address concerns raised during consultation meetings, as well as clarifying the potential impacts from the Escobal mine's activities. These documents can be reviewed on the MEM website at: The MEM has indicated that they will continue to hold working meetings and maintain dialogue with the XP in order to comply with the Constitutional Court ruling for the ILO 169 Consultation. There is no detailed timeline of activities nor a date for completion of the consultation process. Article content MAG SILVER CORP. TRANSACTION Article content On May 11, 2025, the Company and MAG Silver Corp. ('MAG') entered into a definitive agreement (the 'Arrangement Agreement') whereby the Company expects to acquire all of the issued and outstanding common shares of MAG pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) (the 'Transaction'). Under the terms of the Arrangement Agreement, MAG shareholders will be able to elect to receive the consideration as either (i) $20.54 in cash per MAG share or (ii) 0.755 common shares of Pan American per MAG share, or a combination of cash and shares, subject to proration such that the aggregate consideration paid to all MAG shareholders consists of $500.0 million in cash and the remaining consideration paid in Pan American common shares. On July 10, 2025, MAG's shareholders approved the Transaction at its special shareholders meeting. The Transaction is expected to close in the second half of 2025, subject to the satisfaction of customary closing conditions, including clearance under Mexican anti-trust laws. Article content MAG is a tier-one primary silver mining company through its 44% interest in the large-scale, high-grade Juanicipio mine, operated by Fresnillo plc, who holds the remaining 56% interest in Juanicipio. Juanicipio is a 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. Article content Three months ended June 30, 2025 Three months ended June 30, 2024 Weighted average shares during period 362,011 362,954 Shares outstanding end of period 361,776 362,970 Three months ended June 30, 2025 2024 FINANCIAL Revenue $ 811.9 $ 686.3 Cost of Sales (1) $ 538.6 $ 569.4 Mine operating earnings $ 273.3 $ 116.9 Net earnings (loss) $ 189.6 $ (21.4 ) Basic earnings (loss) per share (2) $ 0.52 $ (0.06 ) Adjusted earnings (3) $ 155.4 $ 40.0 Basic adjusted earnings per share (2)(3) $ 0.43 $ 0.11 Net cash generated from operating activities $ 293.4 $ 162.7 Net cash generated from operating activities before changes in working capital (3) $ 287.9 $ 196.9 Sustaining capital expenditures (3) $ 60.4 $ 60.6 Project capital expenditures (3)(4) $ 13.3 $ 28.8 Cash dividend paid per share $ 0.10 $ 0.10 PRODUCTION Silver (thousand ounces) 5,094 4,567 Gold (thousand ounces) 178.7 220.4 Zinc (thousand tonnes) 12.6 10.1 Lead (thousand tonnes) 6.0 4.9 Copper (thousand tonnes) 0.7 1.2 AISC (3) ($/ounce) Silver Segment 19.69 18.12 Gold Segment 1,611 1,465 AVERAGE REALIZED PRICES (5) Silver ($/ounce) 32.91 28.14 Gold ($/ounce) 3,305 2,336 Zinc ($/tonne) 2,597 2,901 Lead ($/tonne) 1,954 2,171 Copper ($/tonne) 9,401 10,515 Article content (1) Cost of Sales includes production costs, depreciation and amortization and royalties. (2) Per share amounts are based on basic weighted average common shares. (3) Non-GAAP measure; please refer to the 'Alternative Performance (non-GAAP) Measures' section of this news release for further information on these measures. The AISC are excluding NRV inventory adjustments. (4) Project capital relates to expenditures at the La Colorada Skarn Project, and the Huaron, Timmins, La Colorada and Jacobina mines. (5) Metal prices stated are inclusive of final settlement adjustments on concentrate sales. Article content Q2 2025 OPERATING PERFORMANCE Silver Production (thousand ounces) Gold Production (thousand ounces) AISC ($ per ounce) (1) Silver Segment La Colorada (Mexico) 1,507 1.3 24.18 Cerro Moro (Argentina) 488 16.1 (0.47) Huaron (Peru) 844 — 22.73 San Vicente (Bolivia) (2) 755 — 23.39 Total Silver Segment (3) 3,594 17.3 19.69 Gold Segment Jacobina (Brazil) 1 47.6 1,296 El Peñon (Chile) 968 27.9 1,284 Timmins (Canada) 3 24.5 2,420 Shahuindo (Peru) 60 33.7 1,551 Minera Florida (Chile) 176 17.7 2,403 Dolores (Mexico) 291 10.1 811 Total Gold Segment (3) 1,500 161.4 1,611 Total Consolidated (3) 5,094 178.7 Article content (1) Non-GAAP measure; please refer to the 'Alternative Performance (non-GAAP) Measures' section of this news release for further information on these measures. The AISC are excluding NRV inventory adjustments. (2) San Vicente data represents Pan American's 95.0% interest in the mine's production. (3) Totals may not add due to rounding. Article content 2025 OPERATING OUTLOOK Article content The Company reaffirms its 2025 Operating Outlook for annual production, AISC, and capital expenditures, as summarized in the table below. Article content Management now expects gold production to be more heavily weighted to the fourth quarter of 2025 than originally indicated in its 2025 Quarterly Operating Outlook, as some production from the third quarter is expected to be deferred. Article content Please see Pan American's MD&A dated February 19, 2025, for further detail on the Company's 2025 Operating Outlook. Please also refer to the Cautionary Note Regarding Forward-Looking Statements and Information at the end of this news release. Article content 2025 Annual Guidance Silver Production (million ounces) 20.00 – 21.00 Gold Production (thousand ounces) 735 – 800 Silver Segment AISC (1) ($ per ounce) 16.25 – 18.25 Gold Segment AISC (1) ($ per ounce) 1,525 – 1,625 Sustaining Capital Expenditures ($ millions) 270.0 – 285.0 Project Capital Expenditures ($ millions) 90.0 – 100.0 Article content (1) AISC is a non-GAAP measure. Please refer to the 'Alternative Performance (Non-GAAP) Measures' section of this news release for further information on these measures. The AISC forecast assumes average metal prices of $30.00/oz for silver, $2,650/oz for gold, $3,000/tonne ($1.36/lb) for zinc, $2,000/tonne ($0.91/lb) for lead, and $9,500/tonne ($4.31/lb) for copper; and average annual exchange rates relative to 1 USD of 20.00 for the Mexican peso ('MXN'), 3.75 for the Peruvian sol ('PEN'), 1,177.00 for the Argentine peso ('ARS'), 7.00 for the Bolivian boliviano ('BOB'), 1.38 for the Canadian dollar ('CAD'), 950.00 for the Chilean peso ('CLP') and 5.75 for the Brazilian real ('BRL'). Article content AISC, adjusted earnings, basic adjusted earnings per share, sustaining and project capital, free cash flow, working capital, and total debt are non-GAAP financial measures. Please refer to the 'Alternative Performance (non-GAAP) Measures' section of this news release for further information on these measures. Article content This news release should be read in conjunction with Pan American's Unaudited Condensed Interim Consolidated Financial Statements and our MD&A for the three and six months ended June 30, 2025. This material is available on Pan American's website at on SEDAR+ at and on EDGAR at Article content About Pan American Article content Pan American is a leading producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. We also own the Escobal mine in Guatemala that is currently not operating, and we hold interests in exploration and development projects. We have been operating in the Americas for over three decades, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol 'PAAS'. Article content Learn more at Follow us on LinkedIn Alternative Performance (Non-GAAP) Measures In this news release, we refer to measures that are non-GAAP financial measures. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning as prescribed by IFRS as an indicator of performance, and may differ from methods used by other companies with similar descriptions. These non-GAAP financial measures include: Article content Adjusted earnings and basic adjusted earnings per share. Pan American believes that these measures better reflect normalized earnings as they eliminate items that in management's judgment are subject to volatility as a result of factors, which are unrelated to operations in the period, and/or relate to items that will settle in future periods. All-in Sustaining Costs ('AISC') per silver or gold ounce sold, net of by-product credits. Pan American believes that AISC, calculated net of by-products, is a comprehensive measure of the full cost of operating our consolidated business, given it includes the cost of replacing silver and gold ounces through exploration, the cost of ongoing capital investments at current operations ('sustaining capital'), as well as other items that affect the Company's consolidated cash flow. AISC excludes capital investments that are expected to increase production levels or mine life beyond those contemplated in the base case life of mine plan ('project capital'). Total debt is calculated as the total current and non-current portions of: debt, including senior notes and amounts drawn on the Credit Facility, and lease obligations. Total debt does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate the financial debt leverage of Pan American. Working capital is calculated as current assets less current liabilities. Working capital does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate whether Pan American is able to meet its current obligations using its current assets. Total available liquidity is calculated as cash and cash equivalents plus short-term investments, plus undrawn amounts under the Credit Facility. Total available liquidity does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate the liquid financial resources available to the Company. Project capital relates to expenditures at the La Colorada mine, the La Colorada Skarn, and the Huaron, Timmins and Jacobina mines. Project capital does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate capital investments that are directed at increasing production levels or mine life beyond those contemplated in the base case life of mine plan. Free cash flow is calculated as net cash generated from operating activities less sustaining capital expenditures. Free cash flow does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate the profitability of Pan American and identify capital that may be available for investment or return to shareholders. Article content Readers should refer to the 'Alternative Performance (non-GAAP) Measures' section of Pan American's Q2 2025 MD&A for a more detailed discussion of these and other non-GAAP measures and their calculation. Article content Cautionary Note Regarding Forward-Looking Statements and Information Article content Certain of the statements and information in this news release constitute 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and 'forward-looking information' within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: future financial or operational performance, including our estimated production of silver, gold and other metals forecasted for 2025, our estimated AISC, and our sustaining and project capital expenditures in 2025; any anticipated benefits resulting from project capital expenditures; the anticipated dividend payment date of August 29, 2025; the anticipated closing of the Transaction with MAG and any anticipated benefits therefrom, including a meaningful increase in Pan American's exposure to high margin silver ounces, and future growth opportunities; the development of the La Colorada Skarn, or the consultation process for Escobal, and any anticipated benefits to shareholder value or financial or operational performance that may be derived therefrom; expectations regarding the ILO 169 consultation process with respect to Escobal; and Pan American's plans and expectations for its properties and operations. Article content These forward-looking statements and information reflect Pan American's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by Pan American, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: the impact of inflation and disruptions to the global, regional and local supply chains; tonnage of ore to be mined and processed; future anticipated prices for gold, silver and other metals and assumed foreign exchange rates; the timing and impact of planned capital expenditure projects, including anticipated sustaining, project, and exploration expenditures; the ongoing impact and timing of the court-mandated ILO 169 consultation process in Guatemala; ore grades and recoveries; capital, decommissioning and reclamation estimates; our mineral reserve and mineral resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of our operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for our operations are received in a timely manner; our ability to secure and maintain title and ownership to mineral properties and the surface rights necessary for our operations; whether Pan American is able to maintain a strong financial condition and have sufficient capital, or have access to capital through our corporate Credit Facility or otherwise, to sustain our business and operations; and our ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. Article content Pan American cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and Pan American has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the duration and effect of local and world-wide inflationary pressures and the potential for economic recessions; fluctuations in silver, gold and base metal prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the PEN, MXN, ARS, BOB, GTQ, CAD, CLP and BRL versus the USD); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom Pan American does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and indigenous populations; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in the jurisdictions where we operate, including environmental, export and import laws and regulations; changes in national and local government, legislation, taxation, controls or regulations and political, legal or economic developments in Canada, the United States, Mexico, Peru, Argentina, Bolivia, Guatemala, Chile, Brazil or other countries where Pan American may carry on business, including legal restrictions relating to mining, risks relating to expropriation and risks relating to the constitutional court-mandated ILO 169 consultation process in Guatemala; unanticipated or excessive tax assessments or reassessments in our operating jurisdictions; diminishing quantities or grades of mineral reserves as properties are mined; increased competition in the mining industry for equipment and qualified personnel; and those factors identified under the caption 'Risks Related to Pan American's Business' in Pan American's most recent form 40-F and Annual Information Form filed with the United States Securities and Exchange Commission and Canadian provincial securities regulatory authorities, respectively. Article content Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against attributing undue certainty or reliance on forward-looking statements or information. Forward-looking statements and information are designed to help readers understand management's current views of our near- and longer-term prospects and may not be appropriate for other purposes. The Company does not intend, nor does it assume any obligation, to update or revise forward-looking statements or information to reflect changes in assumptions or in circumstances or any other events affecting such statements or information, other than as required by applicable law. Article content Article content Article content Article content Contacts
Globe and Mail
17-07-2025
- Business
- Globe and Mail
Best Income Stocks to Buy for July 17th
Here are three stocks with buy rank and strong income characteristics for investors to consider today, July 17th: Kimbell Royalty Partners, LP KRP: This oil and gas mineral and royalty company has witnessed the Zacks Consensus Estimate for its next year earnings increasing 83.3% over the last 60 days. This Zacks Rank #1 company has a dividend yield of 13.3%, compared with the industry average of 7.6%. Kimbell Royalty Dividend Yield (TTM) Kimbell Royalty dividend-yield-ttm | Kimbell Royalty Quote MAG Silver Corp. MAG: This precious metal company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 11.6% over the last 60 days. This Zacks Rank #1 company has a dividend yield of 1.1%, compared with the industry average of 0.2%. MAG Silver Corporation Dividend Yield (TTM) MAG Silver Corporation dividend-yield-ttm | MAG Silver Corporation Quote First Commonwealth Financial Corporation FCF: This banking company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 2.8% over the last 60 days. This Zacks Rank #1 company has a dividend yield of 3.3%, compared with the industry average of 2.7%. First Commonwealth Financial Corporation Dividend Yield (TTM) First Commonwealth Financial Corporation dividend-yield-ttm | First Commonwealth Financial Corporation Quote See the full list of top ranked stocks here. Find more top income stocks with some of our great premium screens. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> 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 MAG Silver Corporation (MAG): Free Stock Analysis Report Kimbell Royalty (KRP): Free Stock Analysis Report
Yahoo
19-06-2025
- Business
- Yahoo
Independent Proxy Advisory Firm ISS Recommends MAG Silver Corp. Shareholders Vote 'FOR' the Plan of Arrangement With Pan American Silver Corp.
All amounts expressed in U.S. dollars unless otherwise indicated. VANCOUVER, British Columbia, June 19, 2025 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG) ('MAG', or the 'Company') is pleased to announce that Institutional Shareholder Services Inc. ('ISS'), a leading independent proxy advisory firm, has issued a report recommending that MAG shareholders ('Shareholders') vote FOR the special resolution approving the previously announced plan of arrangement (the 'Arrangement') with Pan American Silver Corp. (the 'Purchaser' or 'Pan American') at the Company's upcoming special meeting of Shareholders (the 'Meeting'). Pursuant to the Arrangement, the Purchaser will acquire all of the issued and outstanding shares of the Company (the 'MAG Shares'), with Shareholders receiving total consideration of approximately $2.1 billion representing $20.54 per MAG Share, based on the closing price of Pan American's common shares (each, a 'Pan American Share') on the New York Stock Exchange on May 9, 2025. Under the terms of the Arrangement, Shareholders will be able to elect to receive the consideration as either: (i) $20.54 in cash per MAG Share, or (ii) $0.0001 in cash and 0.755 Pan American Shares per MAG Share, subject to proration such that the aggregate consideration paid to all Shareholders consists of $500 million in cash and the remaining consideration paid in Pan American Shares. The Arrangement will be voted on at the Meeting to be held on July 10, 2025 at 9:00 a.m. (Vancouver time). ISS is a leading independent proxy voting and corporate governance advisory firm whose recommendation may influence how certain pension funds, investment managers, mutual funds, and other institutional shareholders vote. In its recommendation to vote FOR the resolution approving the Arrangement, ISS stated that the Arrangement provides shareholders with 'premium value to the unaffected date and an attractive blend of cash (subject to proration) and/or equity consideration.' ISS also noted that 'the consideration represents the highest price for MAG shares going back to 2021' and the combined company will have a larger, more diversified asset portfolio and will offer Shareholders the benefits of increased liquidity, scale, and market presence. Important additional information regarding the Arrangement, including the rights and entitlements of Shareholders thereunder and how Shareholders can attend and vote at the Meeting, is set out in the Company's information circular dated June 6, 2025 and accompanying meeting materials. The meeting materials were mailed to all Shareholders of record as of June 2, 2025 and are also available on the Company's website at and under the Company's profile on SEDAR+ at Vote Today Act Now. The deadline for Shareholders to vote FOR the Arrangement is 9:00 a.m. (Vancouver time) on Tuesday, July 8, 2025. Shareholder Questions and Assistance If you have any questions or need assistance voting, contact Kingsdale Advisors using your preferred method of communication: Call: 1-800-775-1986 (toll‐free in North America) Call: 1-416-623-2517 (text and call enabled outside North America) Email: contactus@ About MAG Silver Corp. ( MAG Silver Corp. is a growth-oriented Canadian mining and exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG is a top-tier primary silver mining company through its (44%) joint venture interest in the 4,000 tonnes per day Juanicipio Mine, operated by Fresnillo (56%). The mine is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, where in addition to mining and processing operations, an expanded exploration program is in place targeting multiple highly prospective targets. MAG is also executing multi-phase exploration programs at the 100% earn-in Deer Trail Project in Utah and the 100% owned Larder Project, located in the historically prolific Abitibi region of Canada. Neither the Toronto Stock Exchange nor the NYSE American LLC has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management. Certain information contained in this release are 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian and United States securities legislation (collectively herein referred as 'forward-looking statements'), including the 'safe harbour' provisions of provincial securities legislation, the U.S. Private Securities Litigation Reform Act of 1995, Section 21E of the U.S. Securities Exchange Act of 1934, as amended and Section 27A of the U.S. Securities Act. Such forward-looking statements include, but are not limited to the anticipated benefits of the Arrangement, including the nature of the combined company following completion of the Arrangement; the terms of the Arrangement, including the consideration thereunder; the timing of the Meeting and voting deadline in respect of the resolution approving the Arrangement; that MAG is emerging as a top-tier primary silver mining company through its interest in the Juanicipio Mine; and the details of the Company's ongoing exploration programs at its projects. When used in this release, any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, assumptions or future events of performance (often but not always using words or phrases such as 'anticipate', 'believe', 'estimate', 'expect', 'intend', 'plan', 'strategy', 'goals', 'objectives', 'project', 'potential' or variations thereof or stating that certain actions, events, or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions), as they relate to the Company or management, are intended to identify forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to certain known and unknown risks, uncertainties and assumptions. Forward-looking statements are necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. Assumptions underlying the Company's expectations regarding forward-looking statements contained in this release include, among others: the impact of inflation and disruptions to the global, regional and local supply chains; tonnage of ore to be mined and processed; future anticipated prices for gold, silver and other metals and assumed foreign exchange rates; the timing and impact of planned capital expenditure projects, including anticipated sustaining, project, and exploration expenditures; the ongoing impact on Pan American and timing of the court-mandated ILO 169 consultation process in Guatemala; ore grades and recoveries; capital, decommissioning and reclamation estimates; Pan American and the Company's mineral reserve and mineral resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of Pan American and the Company's operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for Pan American's operations are received in a timely manner; Pan American and the Company's ability to secure and maintain title and ownership to mineral properties and the surface rights necessary for our operations; whether Pan American and the Company is able to maintain a strong financial condition and have sufficient capital, to sustain their respective businesses and operations; and Pan American and the Company's ability to comply with environmental, health and safety laws. Although MAG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. The Company's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and, other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change. For the reasons set forth above, investors should not attribute undue certainty to or place undue reliance on forward-looking statements. Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the Internet at and CONTACT: For further information on behalf of MAG Silver Corp., please contact Fausto Di Trapani, Chief Financial Officer. Phone: (604) 630-1399 Toll Free: (866) 630-1399 Email: info@ produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Yahoo
19-06-2025
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Independent Proxy Advisory Firm ISS Recommends MAG Silver Corp. Shareholders Vote 'FOR' the Plan of Arrangement With Pan American Silver Corp.
All amounts expressed in U.S. dollars unless otherwise indicated. VANCOUVER, British Columbia, June 19, 2025 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG) ('MAG', or the 'Company') is pleased to announce that Institutional Shareholder Services Inc. ('ISS'), a leading independent proxy advisory firm, has issued a report recommending that MAG shareholders ('Shareholders') vote FOR the special resolution approving the previously announced plan of arrangement (the 'Arrangement') with Pan American Silver Corp. (the 'Purchaser' or 'Pan American') at the Company's upcoming special meeting of Shareholders (the 'Meeting'). Pursuant to the Arrangement, the Purchaser will acquire all of the issued and outstanding shares of the Company (the 'MAG Shares'), with Shareholders receiving total consideration of approximately $2.1 billion representing $20.54 per MAG Share, based on the closing price of Pan American's common shares (each, a 'Pan American Share') on the New York Stock Exchange on May 9, 2025. Under the terms of the Arrangement, Shareholders will be able to elect to receive the consideration as either: (i) $20.54 in cash per MAG Share, or (ii) $0.0001 in cash and 0.755 Pan American Shares per MAG Share, subject to proration such that the aggregate consideration paid to all Shareholders consists of $500 million in cash and the remaining consideration paid in Pan American Shares. The Arrangement will be voted on at the Meeting to be held on July 10, 2025 at 9:00 a.m. (Vancouver time). ISS is a leading independent proxy voting and corporate governance advisory firm whose recommendation may influence how certain pension funds, investment managers, mutual funds, and other institutional shareholders vote. In its recommendation to vote FOR the resolution approving the Arrangement, ISS stated that the Arrangement provides shareholders with 'premium value to the unaffected date and an attractive blend of cash (subject to proration) and/or equity consideration.' ISS also noted that 'the consideration represents the highest price for MAG shares going back to 2021' and the combined company will have a larger, more diversified asset portfolio and will offer Shareholders the benefits of increased liquidity, scale, and market presence. Important additional information regarding the Arrangement, including the rights and entitlements of Shareholders thereunder and how Shareholders can attend and vote at the Meeting, is set out in the Company's information circular dated June 6, 2025 and accompanying meeting materials. The meeting materials were mailed to all Shareholders of record as of June 2, 2025 and are also available on the Company's website at and under the Company's profile on SEDAR+ at Vote Today Act Now. The deadline for Shareholders to vote FOR the Arrangement is 9:00 a.m. (Vancouver time) on Tuesday, July 8, 2025. Shareholder Questions and Assistance If you have any questions or need assistance voting, contact Kingsdale Advisors using your preferred method of communication: Call: 1-800-775-1986 (toll‐free in North America) Call: 1-416-623-2517 (text and call enabled outside North America) Email: contactus@ About MAG Silver Corp. ( MAG Silver Corp. is a growth-oriented Canadian mining and exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG is a top-tier primary silver mining company through its (44%) joint venture interest in the 4,000 tonnes per day Juanicipio Mine, operated by Fresnillo (56%). The mine is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, where in addition to mining and processing operations, an expanded exploration program is in place targeting multiple highly prospective targets. MAG is also executing multi-phase exploration programs at the 100% earn-in Deer Trail Project in Utah and the 100% owned Larder Project, located in the historically prolific Abitibi region of Canada. Neither the Toronto Stock Exchange nor the NYSE American LLC has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management. Certain information contained in this release are 'forward-looking information' and 'forward-looking statements' within the meaning of applicable Canadian and United States securities legislation (collectively herein referred as 'forward-looking statements'), including the 'safe harbour' provisions of provincial securities legislation, the U.S. Private Securities Litigation Reform Act of 1995, Section 21E of the U.S. Securities Exchange Act of 1934, as amended and Section 27A of the U.S. Securities Act. Such forward-looking statements include, but are not limited to the anticipated benefits of the Arrangement, including the nature of the combined company following completion of the Arrangement; the terms of the Arrangement, including the consideration thereunder; the timing of the Meeting and voting deadline in respect of the resolution approving the Arrangement; that MAG is emerging as a top-tier primary silver mining company through its interest in the Juanicipio Mine; and the details of the Company's ongoing exploration programs at its projects. When used in this release, any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, assumptions or future events of performance (often but not always using words or phrases such as 'anticipate', 'believe', 'estimate', 'expect', 'intend', 'plan', 'strategy', 'goals', 'objectives', 'project', 'potential' or variations thereof or stating that certain actions, events, or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved, or the negative of any of these terms and similar expressions), as they relate to the Company or management, are intended to identify forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to certain known and unknown risks, uncertainties and assumptions. Forward-looking statements are necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. Assumptions underlying the Company's expectations regarding forward-looking statements contained in this release include, among others: the impact of inflation and disruptions to the global, regional and local supply chains; tonnage of ore to be mined and processed; future anticipated prices for gold, silver and other metals and assumed foreign exchange rates; the timing and impact of planned capital expenditure projects, including anticipated sustaining, project, and exploration expenditures; the ongoing impact on Pan American and timing of the court-mandated ILO 169 consultation process in Guatemala; ore grades and recoveries; capital, decommissioning and reclamation estimates; Pan American and the Company's mineral reserve and mineral resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of Pan American and the Company's operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for Pan American's operations are received in a timely manner; Pan American and the Company's ability to secure and maintain title and ownership to mineral properties and the surface rights necessary for our operations; whether Pan American and the Company is able to maintain a strong financial condition and have sufficient capital, to sustain their respective businesses and operations; and Pan American and the Company's ability to comply with environmental, health and safety laws. Although MAG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. The Company's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made and, other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change. For the reasons set forth above, investors should not attribute undue certainty to or place undue reliance on forward-looking statements. Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the Internet at and CONTACT: For further information on behalf of MAG Silver Corp., please contact Fausto Di Trapani, Chief Financial Officer. Phone: (604) 630-1399 Toll Free: (866) 630-1399 Email: info@
