Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Red Cross receives two coffins of deceased hostages...
Trump surgeon general nominee confirmation hearing postponed as...
Vance to meet with Duffy, aviation leaders as...
Once a trade war weapon, US soybeans return...
Republican senators blast FDA for expanding abortion pill...
Senate defies Trump on global tariffs as Republicans...
House Republicans divided over Obamacare as GOP eyes...
Thune, GOP reject pushing ‘rifle-shot’ government funding bills...
Trump’s fire fades on Russia as he pulls...
GOP lawmaker says backing Cuomo over ‘communist’ Mamdani...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Coeur Mining to Buy SilverCrest Metals for US$1.7 Billion

by admin October 6, 2024
October 6, 2024
Coeur Mining to Buy SilverCrest Metals for US$1.7 Billion

Coeur Mining (NYSE:CDE) announced it will acquire SilverCrest Metals (TSX:SIL,NYSEAMERICAN:SILV) in a US$1.7 billion deal, furthering its bid to position itself as a leading global silver producer.

The acquisition will see Coeur integrate SilverCrest’s Las Chispas mine in Sonora, Mexico, a high-grade, low-cost silver and gold operation. The transaction is also expected to bolster Coeur’s silver production, projecting an output of 21 million ounces of silver annually across five North American mining operations by 2025.

The combined entity will also produce an estimated 432,000 ounces of gold per year.

Under the terms, the transaction will involve a share exchange under which SilverCrest shareholders will receive 1.6022 Coeur common shares for each SilverCrest share.

Based on the closing prices of both companies on October 3, 2024, this equates to a per-share valuation of US$11.34 for SilverCrest, a premium of 18 percent over recent trading averages.

Upon completion, Coeur shareholders will own approximately 63 percent of the combined company, while SilverCrest shareholders will hold around 37 percent.

This acquisition is part of Coeur’s strategy to enhance its silver production and operational footprint in North America.

Coeur, which already operates the Rochester silver mine in Nevada and the Palmarejo underground mine in Mexico, will add Las Chispas to its portfolio, who in turn commenced commercial production in late 2022.

The combined company’s operations will focus predominantly on silver, which is projected to contribute 40 percent of revenues by 2025.

Coeur President and CEO Mitchell Krebs highlighted the importance of the acquisition for the company’s growth trajectory, stating that SilverCrest’s operational and financial strength would significantly enhance Coeur’s balance sheet and provide opportunities for investment in other projects.

“With over 15 years of experience operating our Palmarejo underground silver and gold operation next door in Chihuahua, we look forward to adding the high-quality Las Chispas mine to create a leading global silver company at a time when the demand for silver in renewable energy and a wide range of electrification end uses is rapidly rising,” Krebs added.

The acquisition is slated to close by late Q1 2025, pending approval from SilverCrest and Coeur shareholders, as well as regulatory clearances in Canada, Mexico and the US.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Top 5 Canadian Mining Stocks This Week: Adyton Shines with 61 Percent Gain
next post
Speaker Johnson rips ‘lack of leadership’ in Biden admin’s Helene response: ‘alarmed and disappointed’

You may also like

Allied Critical Metals Appoints Former U.S. Secretary of...

August 20, 2025

Submission of ASX Listing Prospectus, Proposed Fundraising to...

August 13, 2024

Stellar AfricaGold Inc Intersects Multiple Wide High-Grade Gold...

October 2, 2025

Proposed Consolidation of Capital

August 14, 2024

LME Week 2024: Copper Highlighted as ‘Top Prospect’

October 15, 2024

World Class Copper Potential Increased at Yataga Copper...

September 30, 2024

Allup Acquires 100% of McLaren Valuable Heavy Mineral...

August 20, 2024

Cardiol Therapeutics Completes US$11.4 Million Financing and Extends...

October 21, 2025

Sun Summit Adds Second Drill Rig to Follow...

September 23, 2025

Heritage Mining Announces Exploration Permit for Contact Bay...

December 11, 2024

Recent Posts

  • Red Cross receives two coffins of deceased hostages in Gaza Strip, IDF says
  • Trump surgeon general nominee confirmation hearing postponed as she goes into labor
  • Vance to meet with Duffy, aviation leaders as shutdown ‘gravely’ impacts crucial industry
  • Once a trade war weapon, US soybeans return to China’s shopping list
  • Republican senators blast FDA for expanding abortion pill access

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (946)
    • Investing (3,314)
    • Politics (4,055)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 Sightful Invest. All Rights Reserved.