Latest news with #PanAmericanSilver
Yahoo
8 hours ago
- Business
- Yahoo
Mineros to buy remaining 80% stake in La Pepa gold exploration project
Mineros has agreed to acquire an additional 80% interest in the La Pepa gold exploration project from Pan American Silver for $40m (161.25bn pesos). The move brings Mineros' interest in the La Pepa project to 100%. It is 100% owned by Minera Cavancha, a joint venture (JV) entity that is 20% owned by Mineros and 80% by Pan American. The transaction is structured as a share purchase agreement between subsidiaries of Mineros and Pan American, involving the sale of all shares of Minera Cavancha not currently owned by Mineros. With this purchase, the existing JV between the two mining giants will come to an end. The acquisition is expected to be finalised by 30 September 2025. This strategic move will enable Mineros to leverage the full potential of the La Pepa project, enhancing its position in the global mining sector. Mineros president and CEO David Londoño said: 'We are pleased to add the balance of the La Pepa project not already owned by us to our portfolio of organic growth projects. 'While we remain focused on acquiring producing gold assets or late-stage development assets, we are expanding our strategy to include acquiring earlier-stage projects to enable Mineros to develop a pipeline of growth projects as we mature as a mid-tier gold producer. Additionally, the acquisition of La Pepa Project exposes us to Chile, an additional jurisdiction with a long and well-established mining history.' The La Pepa project in the Atacama Region of Chile lies approximately 800km north of Santiago and 110km east of Copiapó in the Andes Mountains, at an altitude of 4,200m. The mineral resource estimate effective 31 October 2021 revealed measured mineral resources of 58.82 million tonnes averaging 0.61 grams per tonne of gold, containing 1.15 million ounces of gold. In related news, Pan American Silver has entered into a definitive agreement to purchase all issued and outstanding common shares of MAG Silver. This acquisition, valued at approximately $2.1bn (C$2.9bn), will be executed through a court-approved plan of arrangement. "Mineros to buy remaining 80% stake in La Pepa gold exploration project" 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. 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
National Post
18 hours ago
- Business
- National Post
Mineros S.A. Acquires 80% of La Pepa from Pan American to Own 100%
Article content $40 million for 80% of the La Pepa Project that Mineros does not already own Estimated Mineral Resources at the La Pepa Project, effective October 31, 2021: Measured Mineral Resources: 58,816 thousand tonnes (kt) averaging 0.61 g/t Au, containing 1,150 thousand ounces (koz) Au. Indicated Mineral Resources: 65,405 kt averaging 0.49 g/t, containing 1,039 koz Au. Inferred Mineral Resources: 25,024 kt averaging 0.46 g/t, containing 366 koz Au. Article content All dollar amounts are expressed in U.S. dollars. Article content MEDELLIN, Colombia — Mineros S.A. (TSX:MSA, MINEROS:CB) (' Mineros ' or the ' Company') is pleased to announce that it will acquire from Pan American Silver Corp. (' Pan American ') an 80% interest in the La Pepa Project for $40 million (the ' La Pepa Project Purchase '), bringing its interest in the La Pepa Project to 100%. The La Pepa Project Purchase is structured as a transaction between subsidiaries of Mineros and Pan American for the purchase and sale of all shares of Minera Cavancha SpA not currently owned by Mineros. Minera Cavancha SpA currently holds the La Pepa Project pursuant to a joint venture between Mineros and Pan American. In connection with the La Pepa Project Purchase, that joint venture will be terminated. Article content The La Pepa Project Purchase is expected to close on or before September 30, 2025. Article content 'We are pleased to add the balance of the La Pepa Project not already owned by us to our portfolio of organic growth projects,' stated David Londoño, President and CEO of Mineros. 'While we remain focused on acquiring producing gold assets or late-stage development assets, we are expanding our strategy to include acquiring earlier-stage projects to enable Mineros to develop a pipeline of growth projects as we mature as a mid-tier gold producer. Additionally, the acquisition of La Pepa Project exposes us to Chile, an additional jurisdiction with a long and well-established mining history.' Article content La Pepa Project, Chile Article content The La Pepa Project is an advanced gold exploration project located in the Maricunga Gold Belt of the Atacama Region, Chile, approximately 800 km north of Santiago and 110 km east of Copiapó, at 4,200 metres above sea level in the Andes Mountains. It is 100% owned by Minera Cavancha SpA, a joint venture entity that is owned 20% by Mineros and 80% by Pan American. Article content The La Pepa Project represents a significant exploration-stage opportunity for Mineros in Chile, with promising mineralization and plans for further development. Key details about the project include: Article content Exploration and Development: The project targets a porphyry-style gold system with two types of auriferous mineralization: gold disseminated in stockwork and high-sulphidation epithermal replacement veins. Envisioned as an open-pit mining and heap-leaching operation. Drilling and Results: A 6,342-metre drilling program (2019-2020) confirmed lateral continuity and potential expansion at depth. For further information, see Mineros' annual information form for the year ended December 31, 2021, dated March 31, 2022. Future Plans: Mineros plans to use the Mineral Resource estimate effective October 31, 2021 as the basis for a preliminary economic assessment (PEA) to evaluate feasibility as a heap-leaching operation. Article content Mineral Resources reported in this press release were estimated by Geoestima Spa. (GeoEstima), inside an optimized pit envelope with cut-off grades of 0.20 g/t Au for oxides and 0.26 g/t Au for sulphides, which corresponds to the marginal cut-off grade, assuming a long-term gold price of $1,650 per ounce. All figures are rounded to reflect the relative accuracy of the estimate, and numbers may not add up due to rounding. The qualified person is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the potential development of the Mineral Resources. Article content ABOUT MINEROS S.A. Article content Mineros is a Latin American gold mining company headquartered in Medellin, Colombia. The Company has a diversified asset base, with mines in Colombia and Nicaragua and a pipeline of development and exploration projects throughout the region. Article content The board of directors and management of Mineros have extensive experience in mining, corporate development, finance and sustainability. Mineros has a long track record of maximizing shareholder value and delivering solid annual dividends. For almost 50 years Mineros has operated with a focus on safety and sustainability at all its operations. Article content Mineros' common shares are listed on the Toronto Stock Exchange under the symbol 'MSA', and on the Colombia Stock Exchange under the symbol 'MINEROS'. Article content Election of Directors – Electoral Quotient System Article content The Company has been granted an exemption from the individual voting and majority voting requirements applicable to listed issuers under Toronto Stock Exchange policies, on grounds that compliance with such requirements would constitute a breach of Colombian laws and regulations which require the directors to be elected on the basis of a slate of nominees proposed for election pursuant to an electoral quotient system. For further information, please see the Company's most recent annual information form, available on the Company's website at and from SEDAR+ at Article content Scientific and technical information contained in this news release has been approved by Orlando Rojas, MAIG, Principal Consultant and Director at GeoEstima, who is a qualified person within the meaning of NI 43-101, and who is independent of the Company. Article content CAUTIONARY NOTE REGARDING MINERAL RESOURCE ESTIMATES Article content In accordance with applicable Canadian securities regulatory requirements, all Mineral Resource estimates disclosed in this news release have been prepared in accordance with NI 43-101 and are classified in accordance with the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves (the ' CIM Standards '). Article content Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. Pursuant to the CIM Standards, Mineral Resources have a higher degree of uncertainty than Mineral Reserves as to their existence as well as their economic and legal feasibility. Inferred Mineral Resources, when compared with Measured or Indicated Mineral Resources, have the least certainty as to their existence, and it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Pursuant to NI 43-101, Inferred Mineral Resources may not form the basis of any economic analysis, including any feasibility study. Accordingly, readers are cautioned not to assume that all or any part of a Mineral Resource exists, will ever be converted into a Mineral Reserve, or is or will ever be economically or legally mineable or recovered. Article content FORWARD-LOOKING STATEMENTS Article content This news release contains 'forward looking information' within the meaning of applicable Canadian securities laws. Forward looking information includes statements that use forward looking terminology such as 'may', 'could', 'would', 'will', 'should', 'intend', 'target', 'plan', 'expect', 'budget', 'estimate', 'forecast', 'schedule', 'anticipate', 'believe', 'continue', 'potential', 'view' or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward looking information includes, without limitation, statements with respect to completion of the La Pepa Project Purchase; the estimate of Mineral Resources; exploration plans; and mining techniques that may be suitable for the La Pepa Project. Article content Forward looking information is based upon estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this news release. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Article content For further information of these and other risk factors, please see the 'Risk Factors' section of the Company's annual information form dated March 31, 2025, available on SEDAR+ at The Company cautions that the foregoing lists of important assumptions and factors are not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained herein. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Article content Article content Article content Article content Article content Contacts Article content For further information, please contact:
Yahoo
18 hours ago
- Business
- Yahoo
Mineros S.A. Acquires 80% of La Pepa from Pan American to Own 100%
$40 million for 80% of the La Pepa Project that Mineros does not already own Estimated Mineral Resources at the La Pepa Project, effective October 31, 2021: Measured Mineral Resources: 58,816 thousand tonnes (kt) averaging 0.61 g/t Au, containing 1,150 thousand ounces (koz) Au. Indicated Mineral Resources: 65,405 kt averaging 0.49 g/t, containing 1,039 koz Au. Inferred Mineral Resources: 25,024 kt averaging 0.46 g/t, containing 366 koz Au. All dollar amounts are expressed in U.S. dollars. MEDELLIN, Colombia, August 12, 2025--(BUSINESS WIRE)--Mineros S.A. (TSX:MSA, MINEROS:CB) ("Mineros" or the "Company") is pleased to announce that it will acquire from Pan American Silver Corp. ("Pan American") an 80% interest in the La Pepa Project for $40 million (the "La Pepa Project Purchase"), bringing its interest in the La Pepa Project to 100%. The La Pepa Project Purchase is structured as a transaction between subsidiaries of Mineros and Pan American for the purchase and sale of all shares of Minera Cavancha SpA not currently owned by Mineros. Minera Cavancha SpA currently holds the La Pepa Project pursuant to a joint venture between Mineros and Pan American. In connection with the La Pepa Project Purchase, that joint venture will be terminated. The La Pepa Project Purchase is expected to close on or before September 30, 2025. "We are pleased to add the balance of the La Pepa Project not already owned by us to our portfolio of organic growth projects," stated David Londoño, President and CEO of Mineros. "While we remain focused on acquiring producing gold assets or late-stage development assets, we are expanding our strategy to include acquiring earlier-stage projects to enable Mineros to develop a pipeline of growth projects as we mature as a mid-tier gold producer. Additionally, the acquisition of La Pepa Project exposes us to Chile, an additional jurisdiction with a long and well-established mining history." La Pepa Project, Chile The La Pepa Project is an advanced gold exploration project located in the Maricunga Gold Belt of the Atacama Region, Chile, approximately 800 km north of Santiago and 110 km east of Copiapó, at 4,200 metres above sea level in the Andes Mountains. It is 100% owned by Minera Cavancha SpA, a joint venture entity that is owned 20% by Mineros and 80% by Pan American. The La Pepa Project represents a significant exploration-stage opportunity for Mineros in Chile, with promising mineralization and plans for further development. Key details about the project include: Exploration and Development: The project targets a porphyry-style gold system with two types of auriferous mineralization: gold disseminated in stockwork and high-sulphidation epithermal replacement veins. Envisioned as an open-pit mining and heap-leaching operation. Drilling and Results: A 6,342-metre drilling program (2019-2020) confirmed lateral continuity and potential expansion at depth. For further information, see Mineros' annual information form for the year ended December 31, 2021, dated March 31, 2022. Future Plans: Mineros plans to use the Mineral Resource estimate effective October 31, 2021 as the basis for a preliminary economic assessment (PEA) to evaluate feasibility as a heap-leaching operation. Mineral Resources reported in this press release were estimated by Geoestima Spa. (GeoEstima), inside an optimized pit envelope with cut-off grades of 0.20 g/t Au for oxides and 0.26 g/t Au for sulphides, which corresponds to the marginal cut-off grade, assuming a long-term gold price of $1,650 per ounce. All figures are rounded to reflect the relative accuracy of the estimate, and numbers may not add up due to rounding. The qualified person is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the potential development of the Mineral Resources. ABOUT MINEROS S.A. Mineros is a Latin American gold mining company headquartered in Medellin, Colombia. The Company has a diversified asset base, with mines in Colombia and Nicaragua and a pipeline of development and exploration projects throughout the region. The board of directors and management of Mineros have extensive experience in mining, corporate development, finance and sustainability. Mineros has a long track record of maximizing shareholder value and delivering solid annual dividends. For almost 50 years Mineros has operated with a focus on safety and sustainability at all its operations. Mineros' common shares are listed on the Toronto Stock Exchange under the symbol "MSA", and on the Colombia Stock Exchange under the symbol "MINEROS". Election of Directors – Electoral Quotient System The Company has been granted an exemption from the individual voting and majority voting requirements applicable to listed issuers under Toronto Stock Exchange policies, on grounds that compliance with such requirements would constitute a breach of Colombian laws and regulations which require the directors to be elected on the basis of a slate of nominees proposed for election pursuant to an electoral quotient system. For further information, please see the Company's most recent annual information form, available on the Company's website at and from SEDAR+ at QUALIFIED PERSON Scientific and technical information contained in this news release has been approved by Orlando Rojas, MAIG, Principal Consultant and Director at GeoEstima, who is a qualified person within the meaning of NI 43-101, and who is independent of the Company. CAUTIONARY NOTE REGARDING MINERAL RESOURCE ESTIMATES In accordance with applicable Canadian securities regulatory requirements, all Mineral Resource estimates disclosed in this news release have been prepared in accordance with NI 43-101 and are classified in accordance with the 2014 CIM Definition Standards for Mineral Resources and Mineral Reserves (the "CIM Standards"). Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. Pursuant to the CIM Standards, Mineral Resources have a higher degree of uncertainty than Mineral Reserves as to their existence as well as their economic and legal feasibility. Inferred Mineral Resources, when compared with Measured or Indicated Mineral Resources, have the least certainty as to their existence, and it cannot be assumed that all or any part of an Inferred Mineral Resource will be upgraded to an Indicated or Measured Mineral Resource as a result of continued exploration. Pursuant to NI 43-101, Inferred Mineral Resources may not form the basis of any economic analysis, including any feasibility study. Accordingly, readers are cautioned not to assume that all or any part of a Mineral Resource exists, will ever be converted into a Mineral Reserve, or is or will ever be economically or legally mineable or recovered. FORWARD-LOOKING STATEMENTS This news release contains "forward looking information" within the meaning of applicable Canadian securities laws. Forward looking information includes statements that use forward looking terminology such as "may", "could", "would", "will", "should", "intend", "target", "plan", "expect", "budget", "estimate", "forecast", "schedule", "anticipate", "believe", "continue", "potential", "view" or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward looking information includes, without limitation, statements with respect to completion of the La Pepa Project Purchase; the estimate of Mineral Resources; exploration plans; and mining techniques that may be suitable for the La Pepa Project. Forward looking information is based upon estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this news release. While the Company considers these assumptions to be reasonable, the assumptions are inherently subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. Many assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. For further information of these and other risk factors, please see the "Risk Factors" section of the Company's annual information form dated March 31, 2025, available on SEDAR+ at The Company cautions that the foregoing lists of important assumptions and factors are not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained herein. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information contained herein is made as of the date of this news release and the Company disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, future events or results or otherwise, except as and to the extent required by applicable securities laws. View source version on Contacts For further information, please contact: Ann WilkinsonVice President, Investor Relations+1 (647) Juan ObandoDirector, Investor Relations(+57) 574 266
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.
Yahoo
3 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. 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
