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MAG Shareholders Approve the Proposed Acquisition by Pan American
GlobeNewswire· 2025-07-10 23:01
Core Viewpoint - MAG Silver Corp. has received approval from its shareholders for the acquisition by Pan American Silver Corp. through a plan of arrangement, indicating strong shareholder support for the transaction [1][2]. Shareholder Approval - The special resolution for the acquisition was approved by 99.52% of the votes cast by MAG shareholders present or represented at the meeting [2]. - A total of 61,077,441 common shares were represented at the meeting, accounting for 59.03% of the total issued and outstanding MAG shares [2]. Terms of the Arrangement - Under the arrangement, MAG shareholders can choose to receive either $20.54 in cash for each MAG share or a combination of $0.0001 in cash and 0.755 of a common share in Pan American [3]. - The total cash consideration for all MAG shareholders is capped at $500 million, with the remainder paid in Pan American shares [3]. Next Steps for Completion - Following shareholder approval, MAG will seek a final order from the Supreme Court of British Columbia to approve the arrangement, with a hearing scheduled for July 14, 2025 [5]. - The completion of the arrangement is contingent upon receiving necessary regulatory approvals and satisfying customary closing conditions, with an expected closing in the second half of 2025 [5]. Company Overview - MAG Silver Corp. is a Canadian mining and exploration company focused on high-grade precious metals projects in the Americas, including a 44% joint venture interest in the Juanicipio Mine in Mexico [6]. - The company is also engaged in exploration programs at the Deer Trail Project in Utah and the Larder Project in Canada [6].
Endeavour Silver Announces At-the-Market Offering of up to US$60 Million
GlobeNewswire News Room· 2025-07-10 21:42
Core Viewpoint - Endeavour Silver Corp. has entered into a sales agreement to raise up to US$60 million through the sale of common shares over approximately 24 months, utilizing various financial agents for the offering [1][2]. Group 1: Offering Details - The offering will be conducted via a prospectus supplement dated July 10, 2025, linked to the existing U.S. registration statement and Canadian base shelf prospectus [2]. - The common shares will be sold at market prices prevailing at the time of each sale, with no sales occurring on the Toronto Stock Exchange [1][2]. - The company will pay the agents a compensation of 2.00% of the gross sales price per common share sold under the sales agreement [4]. Group 2: Use of Proceeds - Net proceeds from the offering will be allocated to advance the evaluation and development of the Pitarrilla and Parral properties, fund cash requirements during the ramp-up of operations at the Terronera project, assess potential acquisition opportunities, continue exploration at existing properties, and support working capital needs [3]. Group 3: Company Overview - Endeavour Silver is a mid-tier precious metals company focused on sustainable mining practices, with operations in Mexico and Peru, and aims to become a premier senior silver producer [6].
Endeavour Silver Announces At-the-Market Offering of up to US$60 Million
Globenewswire· 2025-07-10 21:42
Core Viewpoint - Endeavour Silver Corp. has entered into a sales agreement to raise up to US$60 million through the sale of common shares over approximately 24 months, utilizing various financial agents for the offering [1][2]. Group 1: Offering Details - The offering will be conducted via a prospectus supplement to the existing U.S. registration statement and Canadian short form base shelf prospectus, both dated May 27, 2025 [2]. - The common shares will be sold at market prices prevailing at the time of each sale, with no sales occurring on the Toronto Stock Exchange [1][2]. - The company will pay the agents a compensation of 2.00% of the gross sales price per common share sold under the sales agreement [4]. Group 2: Use of Proceeds - Net proceeds from the offering will be used to advance the evaluation and development of the Pitarrilla and Parral properties, fund cash requirements during the ramp-up of operations at the Terronera project, assess potential acquisition opportunities, continue exploration at existing properties, and support working capital needs [3]. Group 3: Company Overview - Endeavour Silver is a mid-tier precious metals company focused on sustainable mining practices, with operations in Mexico and Peru, and aims to become a premier senior silver producer [6].
Sandstorm Gold Royalties Reports Second Quarter Sales and Record Revenue; Financial Results August 7
Prnewswire· 2025-07-10 21:05
Core Viewpoint - Sandstorm Gold Ltd. reported strong preliminary results for the second quarter of 2025, achieving record revenue and gold equivalent sales compared to the same period in 2024 [2][3]. Financial Performance - The company sold approximately 15,100 attributable gold equivalent ounces in Q2 2025, generating preliminary revenue of $51.4 million, compared to 17,414 ounces and $41.4 million in Q2 2024 [2]. - The preliminary cost of sales, excluding depletion, was $5.3 million, resulting in record cash operating margins of approximately $2,980 per attributable gold equivalent ounce, up from $2,043 per ounce in the comparable period of 2024 [3][7]. Credit Facility - As of June 30, 2025, the outstanding balance on the company's revolving credit facility was approximately $315 million, with an undrawn and available balance of $310 million [3]. Upcoming Events - The company plans to release its detailed second quarter results on August 7, 2025, with a conference call scheduled for August 8, 2025, to discuss the results further [4]. Company Overview - Sandstorm Gold Royalties is a precious metals-focused royalty company that provides upfront financing to mining companies and holds a portfolio of approximately 230 royalties, with 40 underlying mines currently in production [9].
Bureau of Land Management Accelerates Permitting for Paramount’s High-Grade Grassy Mountain Gold Project
Globenewswire· 2025-07-10 20:00
Core Viewpoint - Paramount Gold Nevada Corp. is progressing towards the publication of the draft Environmental Impact Statement (DEIS) for the Grassy Mountain Gold Project, with expectations for its release in early August 2025, followed by the final EIS and Record of Decision (ROD) in December 2025 [1][2]. Company Overview - Paramount Gold Nevada Corp. is a U.S.-based precious metals exploration and development company focused on creating shareholder value through the exploration and development of its mineral properties [3]. - The company holds a 100% interest in three projects: Grassy Mountain, Sleeper, and Bald Peak [4]. Project Details - The Grassy Mountain Gold Project spans approximately 8,200 acres in Malheur County, Oregon, containing a gold-silver deposit located entirely on private land, with a positive Feasibility Study already released [4]. - The Sleeper Gold Project, located in Northern Nevada, includes the former producing Sleeper mine and consists of 2,474 unpatented mining claims covering about 44,917 acres [5]. - The Bald Peak Project in Nevada is drill-ready and encompasses approximately 2,260 acres [5]. Regulatory and Environmental Review - The U.S. Bureau of Land Management (BLM) has facilitated an accelerated pathway for the Environmental Impact Statement (EIS) process, ensuring environmental standards are maintained [2]. - The inclusion of the Grassy Mountain project on the Federal Government's FAST-41 transparency list has enhanced public access to the environmental review and authorization schedule [2].
Fortuna delivers production of 71,229 gold equivalent ounces from ongoing operations for the second quarter of 2025
Globenewswire· 2025-07-09 09:00
Core Viewpoint - Fortuna Mining Corp. reported its production results for Q2 2025, highlighting a total consolidated gold equivalent ounces (GEO) production of 75,950 ounces, with ongoing operations contributing 71,229 ounces, and reaffirmed its annual production guidance for 2025 in the range of 309,000 to 339,000 GEO [1][3][4]. Production Highlights - Consolidated GEO production for the first half of 2025 totaled 179,409 ounces, including lead and zinc by-product credits [3]. - Ongoing operations in Q2 2025 produced 71,229 ounces of GEO, compared to 70,386 ounces in Q1 2025 [4]. - The Séguéla Mine in Côte d'Ivoire produced 38,186 ounces in Q2 2025, while Lindero Mine in Argentina produced 23,550 ounces, and Caylloma Mine in Peru produced 9,493 ounces [4][6]. Mine Performance - Séguéla Mine: - Q2 2025 production was 38,186 ounces with an average gold grade of 3.0 g/t, showing a slight decrease in ounces produced but an increase in grade compared to Q1 2025 [5][9]. - Year-to-date production reached 76,686 ounces, aligning with the upper end of annual guidance [10]. - Lindero Mine: - Produced 23,550 ounces in Q2 2025, a 16% increase from Q1 2025, driven by higher gold grade and more ore placed on the leach pad [15][16]. - Year-to-date production totaled 43,870 ounces [19]. - Caylloma Mine: - Produced 9,493 GEO in Q2 2025, maintaining consistent production levels with the previous quarter [20][22]. Divestitures - The sale of the Yaramoko Mine was completed in May 2025, with Q2 2025 production from this mine at 4,721 ounces [6][11]. - The divestiture of the San Jose Mine was completed in April 2025, and production from these divested operations is excluded from the current consolidated figures [6][7]. Operational Efficiency - Lindero Mine's photovoltaic plant generated 1 million kWh in June 2025, supplying 26% of its power demand and reducing diesel consumption by 286,300 liters, contributing to cost efficiency [17]. - The crushing plant capacity at Lindero was enhanced, achieving an average throughput of 1,050 tonnes per hour in Q2 2025, which is 11% above the 2024 average [18].
Fortuna delivers production of 71,229 gold equivalent ounces from ongoing operations for the second quarter of 2025
GlobeNewswire News Room· 2025-07-09 09:00
Core Viewpoint - Fortuna Mining Corp. reported its production results for Q2 2025, highlighting a total consolidated gold equivalent ounces (GEO) production of 75,950 ounces, with ongoing operations contributing 71,229 ounces, and reaffirmed its annual production guidance for 2025 in the range of 309,000 to 339,000 GEO [3][4][6]. Production Highlights - Total consolidated GEO production for the first half of 2025 reached 179,409 ounces, including by-product credits from lead and zinc [3]. - Ongoing operations produced 71,229 ounces in Q2 2025, slightly up from 70,386 ounces in Q1 2025 [4]. - The Séguéla Mine in Côte d'Ivoire produced 38,186 ounces of gold in Q2 2025, with a gold grade of 3.00 g/t, while Lindero Mine in Argentina produced 23,550 ounces, and Caylloma Mine in Peru produced 9,493 ounces of gold equivalent [4][11][18]. Mine-Specific Performance - **Séguéla Mine**: - Produced 38,186 ounces of gold in Q2 2025, with a slight decrease in production but an increase in grade compared to Q1 2025 [7]. - Year-to-date production reached 76,686 ounces, aligning with the upper end of annual guidance [8]. - **Yaramoko Mine**: - The mine was sold in May 2025, with Q2 production of 4,721 ounces, significantly down from 33,073 ounces in Q1 2025 [9][10]. - **Lindero Mine**: - Produced 23,550 ounces in Q2 2025, a 16% increase from Q1 2025, driven by higher gold grades and increased ore placement [13]. - Year-to-date production totaled 43,870 ounces [15]. - **Caylloma Mine**: - Produced 240,621 ounces of silver and 9,493 GEO in Q2 2025, maintaining consistent production levels [16][18]. Operational Efficiency - The Lindero Mine's photovoltaic plant generated 1 million kWh in June 2025, supplying 26% of its power demand and eliminating the need for 286,300 liters of diesel, contributing to cost efficiency and reduced emissions [14]. - The crushing plant capacity at Lindero was enhanced, achieving an average throughput of 1,050 tonnes per hour in Q2 2025, which is 11% above the 2024 average [15].
Best Momentum Stock to Buy for July 8th
ZACKS· 2025-07-08 12:26
Group 1: Dundee Precious Metals - Dundee Precious Metals is engaged in the acquisition, exploration, development, mining, and processing of precious metals, holding a Zacks Rank 1 (Strong Buy) [1] - The Zacks Consensus Estimate for Dundee Precious Metals' current year earnings has increased by 24.7% over the last 60 days [1] - The company's shares gained 32.5% over the last three months, outperforming the S&P 500's gain of 25.1%, and it possesses a Momentum Score of A [2] Group 2: Booking Holdings - Booking Holdings is one of the largest online travel companies globally, also holding a Zacks Rank 1 [3] - The Zacks Consensus Estimate for Booking Holdings' current year earnings has increased by 0.9% over the last 60 days [3] - The company's shares gained 39.9% over the last three months, significantly outperforming the S&P 500's gain of 25.1%, and it possesses a Momentum Score of A [4] Group 3: Lloyds Banking Group - Lloyds Banking Group is a UK-based financial services company providing a range of banking and financial services, also holding a Zacks Rank 1 [4] - The Zacks Consensus Estimate for Lloyds Banking Group's current year earnings has increased by 2.6% over the last 60 days [4] - The company's shares gained 27% over the last three months, slightly outperforming the S&P 500's gain of 25.1%, and it possesses a Momentum Score of A [4]
Endeavour Silver Produces 1,483,736 Oz Silver and 7,755 Oz Gold (2.5 Million Silver Equivalent Oz) in Q2 2025
Globenewswire· 2025-07-08 11:15
Core Viewpoint - Endeavour Silver Corp. reported strong production results for Q2 2025, with a total silver equivalent production of 2.5 million ounces, driven by the integration of the Kolpa operation and steady progress at the Terronera project [1][2][3]. Q2 2025 Production Overview - Consolidated silver production reached 1,483,736 ounces, a 13% increase compared to Q1 2024, attributed to the addition of the Kolpa operation [3][9]. - Consolidated gold production was 7,755 ounces, reflecting a 26% decrease from Q2 2024, primarily due to lower output from the Bolañitos and Guanaceví mines [3][9]. - The Kolpa operation processed 118,896 tonnes of material with a silver grade of 111 grams per tonne, contributing positively to the overall production [6][12]. Mine Operations - Guanaceví mine's throughput was 14% lower than Q2 2024, with silver and gold grades down by 1%, leading to a 17% decrease in silver output and a 16% decrease in gold output [4]. - Bolañitos mine experienced a 17% reduction in throughput compared to Q2 2024, with silver production down by 10% and gold production down by 34% [5]. - The integration of Kolpa is progressing well, with production aligning with management's expectations and contributing to the company's long-term growth strategy [6][8]. Terronera Project Update - The Terronera project is advancing towards commercial production, with daily production averaging 1,400 tonnes per day in late June [8][13]. - The plant has shifted focus to refining operations and processing higher-grade ore to achieve planned metal recoveries [14]. Financial Performance - In Q2 2025, the company sold 1,477,197 silver ounces and 7,706 gold ounces, with significant bullion and concentrate inventories held at the end of the quarter [8][9]. - The company anticipates releasing its Q2 2025 financial results on August 13, 2025, followed by a conference call to discuss the results [18].
Goldstorm Metals Initiates 2025 Exploration Program Targeting the Copernicus Zone on the Crown Property, Located in the Golden Triangle of British Columbia
Newsfile· 2025-07-08 09:00
Core Viewpoint - Goldstorm Metals Corp. has initiated a 2025 exploration program targeting the Copernicus Zone on its 100%-owned Crown Property, located in British Columbia's Golden Triangle, following recent copper-gold-silver discoveries [1][13]. Exploration Program - The exploration will include geological and geophysical programs to advance exploration on the Copernicus Zone, which covers approximately 16,000 hectares adjacent to significant projects by Seabridge Gold Inc. and Newmont [1][13]. - The Copernicus Zone is identified as a high-grade copper target with associated gold and silver mineralization [3]. Geological Insights - The company is analyzing assay results from previous sampling programs to define potential drill-hole locations for an inaugural diamond drilling program [3]. - A detailed geophysical study will be conducted over the Orion 'Spine', a six-kilometer-long ridgeline, to identify anomalies associated with mineralization [3][6]. Sampling Results - In 2024, extensive mapping and sampling programs included 627 surface rock samples, revealing multiple mineralized trends within volcaniclastic rocks at the Copernicus Zone [7]. - Notable sampling highlights include a grab sample returning 30.9 g/t gold and 42.39 g/t silver, and 16 samples within the Copernicus Zone returning greater than 1% copper [9][8]. Future Drilling Plans - The company has completed the construction of several drill pads targeting shear-hosted massive chalcopyrite lenses, which may represent mobilized metals from a deeper source [4][5]. - The initiation of a drill program is contingent upon favorable results from the upcoming geophysical study [3][6]. Company Background - Goldstorm Metals Corp. is focused on precious and base metals exploration, holding a strategic land position in the Golden Triangle of British Columbia, which is known for hosting some of the largest and highest-grade gold deposits globally [13].