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Endeavour Silver Completes Acquisition of Minera Kolpa
Globenewswire· 2025-05-01 21:00
Core Viewpoint - Endeavour Silver Corp. has successfully completed the acquisition of Compañia Minera Kolpa S.A. and its main asset, the Huachocolpa Uno Mine, for a total consideration of $145 million [1][2]. Acquisition Details - The acquisition includes $80 million in cash and $65 million in common shares, with potential additional contingent payments of up to $10 million [2]. - Endeavour will also assume approximately $20 million in net debt from Minera Kolpa [2]. Financing - The company closed a $35 million copper stream with Versamet Royalties Corporation to fund the cash component of the acquisition [3]. - Additionally, a $50 million bought deal equity financing was previously announced to support the acquisition [3]. About Kolpa Mine - The Huachocolpa Uno Mine has over 25 years of continuous production and currently operates at a capacity of 1,800 tonnes per day (tpd) [4]. - In 2024, the mine produced 2.0 million ounces of silver and in Q1 2025, it produced 567,269 ounces of silver [4]. - The mine is expected to expand its capacity to 2,500 tpd, with an environmental permit obtained for this expansion [5]. Capital Expenditures - Sustaining capital for the remainder of the year is estimated at $13 million, which includes various infrastructure projects [5]. - An $8 million exploration program is planned to further define and expand recent discoveries [6]. Company Overview - Endeavour Silver is a mid-tier precious metals company focused on sustainable mining practices, with operations in Mexico and Peru [7]. - The company aims to become a premier senior silver producer and has a portfolio of exploration projects in multiple countries [7].
Endeavour Silver Corp. Announces Full Exercise and Closing of Over-Allotment Option
Globenewswire· 2025-04-16 12:24
Core Viewpoint - Endeavour Silver Corp. successfully closed a prospectus offering, raising approximately US$50 million, which will be used to fund the acquisition of Compañia Minera Kolpa S.A. and its Huachocolpa Uno Mine [1][3]. Group 1: Offering Details - The offering closed on April 8, 2025, and included an over-allotment option exercised in full, resulting in the purchase of an additional 1,285,000 common shares at US$3.88 each, generating additional gross proceeds of US$4,985,800 [1]. - The total gross proceeds from the offering amount to approximately US$50 million [1]. Group 2: Acquisition Plans - The net proceeds from the offering will primarily fund the acquisition of all outstanding shares of Compañia Minera Kolpa S.A. for a total consideration of US$145 million [3]. - The closing of the acquisition is subject to regulatory approvals from the Toronto Stock Exchange and New York Stock Exchange, and is expected to occur within 60 days [4]. Group 3: Company Overview - Endeavour Silver Corp. is a mid-tier precious metals company focused on sustainable and responsible mining practices, with operations in Mexico and a new mine development in Jalisco State [5]. - The company also has a portfolio of exploration projects in Mexico, Chile, and the United States, aiming to become a premier senior silver producer [5].