Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
Chemical assay confirms high-grade uranium
How to Invest in Manganese Stocks
$14M Placement to Fund Acquisition & Exploration
Green Technology Metals
Laramide Identifies Targets for 15,000 Meter Drill Program...
Coinbase Expands USDC Rewards to Canada
NVIDIA Facing Weak Demand for New Chip as...
Newmont Withdraws from Mount Coolon Joint Venture, GBM...
LimeWire acquires Fyre Festival, asking ‘What Could Possibly...
Gold Market Dynamics Shifting as China-US Trade Tensions...
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Investing

Coeur Mining to Buy SilverCrest Metals for US$1.7 Billion

by admin October 5, 2024
October 5, 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
Tech 5: OpenAI Closes on US$6.6 Billion in Funding, Cerebras Files for IPO
next post
Biden calls out Rubio for false claim that solid jobs report is ‘fake’

You may also like

Editor’s Picks: Gold Price Breaks US$3,400, Silver Added...

August 30, 2025

Eclipse Metals Ltd Progresses Grønnedal Resource Expansion: Analytical...

January 23, 2025

China Tightens Grip on Strategic Minerals with New...

August 19, 2024

13 Canadian Crypto ETFs (Updated 2025)

January 15, 2025

Alvopetro Announces Q3 2024 Dividend of US$0.09 Per...

September 17, 2024

Shell Contract Consolidates Top Tier Global Energy Position

September 11, 2025

Top 5 Canadian Biotech Stocks in 2025

April 23, 2025

Breaking the Cycle: Can Gold Outshine Historical Trends...

September 4, 2024

Australian Ethics Committee Approval to Expand PD-L1 Nanobody...

November 19, 2024

BPH Global Ltd (ASX: BP8) – Trading Halt

October 22, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Chemical assay confirms high-grade uranium

      September 17, 2025
    • How to Invest in Manganese Stocks

      September 17, 2025
    • $14M Placement to Fund Acquisition & Exploration

      September 17, 2025
    • Green Technology Metals

      September 17, 2025
    • Laramide Identifies Targets for 15,000 Meter Drill Program at Kazakhstan Uranium Project

      September 17, 2025
    Promotion Image

    banner ads

    Categories

    • Business (856)
    • Economy (829)
    • Investing (2,834)
    • Politics (737)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.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 smarttradeinsights.com | All Rights Reserved