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Zacatecas Silver Announces Closing of Over-Subscribed Financing and Outlines Path Forward
Globenewswire· 2025-09-30 00:03
Core Viewpoint - Zacatecas Silver Corp. has successfully closed an over-subscribed private placement financing, raising C$3.75 million to advance its exploration activities in Mexico's silver and gold portfolio [1][3]. Financing Details - The financing involved the issuance of 62,500,000 units at a price of $0.06 per unit, with total gross proceeds amounting to C$3.75 million, up from an initial target of C$2.5 million [1][3]. - Each unit consists of one common share and one common share purchase warrant, with warrants exercisable at $0.10 per share for two years [3]. - Insiders subscribed for 1,000,000 units for $60,000, qualifying as a related party transaction but expected to be exempt from formal valuation requirements [6]. Exploration Strategy - The company is preparing a 4,000-metre drill program targeting the El Cristo and Panuco vein systems, which are considered high-priority [8][9]. - At El Cristo, drilling will explore a large vein system linked to the historic Veta Grande, which produced over 200 million ounces of silver [9]. - The Panuco vein system has a resource estimate of 20.5 million ounces AgEq, with follow-up drilling planned on strong high-grade intercepts [10]. Community Engagement and Project Readiness - The company is working on community engagement agreements and environmental services to support drilling activities, with roadwork and drill pad construction already completed [11]. - Final contractor mobilization for drilling is scheduled for late Q4 2025 [11]. Project Overview - Zacatecas Silver Corp. holds two key projects: the Zacatecas Silver Project and the Esperanza Gold Project, both located in Mexico [13]. - The Zacatecas Silver Project is situated in the Fresnillo silver belt, which has produced over 6.2 billion ounces of silver, and the company holds 7,826 hectares of prospective ground [14]. - The Esperanza Gold Project is characterized as a low-cost, low-capital-intensity project with significant scalability potential [16].
AbraSilver Appoints Marie Inkster as Director and Chair of the Board
Newsfile· 2025-09-24 11:30
Core Insights - AbraSilver Resource Corp. has appointed Marie Inkster as the new Director and Chair of the Board, effective immediately [1][2] - Inkster replaces Robert Bruggeman, who will remain on the Board as a director [2] Company Leadership - Marie Inkster brings over 25 years of international experience in corporate leadership, finance, governance, and capital markets [3] - She previously served as President & CEO of Lundin Mining Corporation from 2018 to 2021 and has held significant board roles with major mining companies [3] Strategic Focus - The company aims to advance the development of its flagship Diablillos project, which is expected to create significant value [4] - The current Measured and Indicated Mineral Resource estimate for Diablillos includes 73.1 million tonnes grading 79 g/t silver and 0.66 g/t gold, containing approximately 186 million ounces of silver and 1.6 million ounces of gold [5]
Vizsla Silver (VZLA) Executes a Mandate Letter with Macquarie Bank Limited
Yahoo Finance· 2025-09-11 07:32
Core Insights - Vizsla Silver Corp. has secured a senior secured project finance facility of up to US$220 million with Macquarie Bank Limited to fund the Panuco silver-gold project in Sinaloa, Mexico [1][2] - The initial drawdown of US$25 million will provide immediate financing for early development and construction preparation [2] - The Panuco project is an emerging high-grade silver-gold discovery located near Mazatlán, Mexico [3] Financial Details - The financing arrangement includes an initial US$25 million early-drawdown tranche to support early development and working capital [2] - The total debt facility is expected to fully finance the Panuco Project through to the first silver production [2] Project Context - The Panuco silver-gold project is characterized as a high-grade discovery, indicating significant potential for valuable mineral extraction [3]
Vizsla Silver Enters US$220M Project Finance Mandate with Macquarie to Fund Development of the Panuco Project
Prnewswire· 2025-09-05 07:15
Core Viewpoint - Vizsla Silver Corp. has secured a mandate letter with Macquarie Bank for a senior secured project finance facility of up to US$220 million to fund the Panuco silver-gold project in Sinaloa, Mexico [1][4]. Financing Details - The facility will be arranged by a syndicate of banks, with Macquarie holding a 70% interest and managing the remaining 30% [2]. - An initial US$25 million early-drawdown tranche may be accessed for early development and working capital, with the remaining funds contingent on customary conditions [3]. - The expected interest cost for the facility is approximately 10% during construction and below 10% post-completion, with a margin of 5.75% and 5.25% respectively [3]. Project Development - The Panuco project is a high-grade silver-gold discovery covering 7,189.5 hectares, with significant existing infrastructure [8]. - The project has an estimated in-situ combined measured and indicated mineral resource of 222.4 million ounces of silver equivalent (AgEq) and an inferred resource of 138.7 million ounces AgEq [10]. - A Preliminary Economic Study indicates an annual production of 15.2 million ounces AgEq over an initial mine life of 10.6 years, with an after-tax NPV of US$1.1 billion and an 86% IRR [11]. Strategic Partnerships - The partnership with Macquarie is seen as a significant step towards de-risking the Panuco project and facilitating its transition into production [4]. - The selection of Macquarie was based on competitive terms and alignment with the project's development timeline [4]. Operational Progress - The Morgan test mine is providing evidence of the technical capabilities and operational discipline of the Vizsla team, validating key assumptions for the feasibility study [5]. - The company is on schedule with key de-risking milestones, positioning itself for a seamless transition into construction [4].
Vizsla Silver Enters US$220M Project Finance Mandate with Macquarie to Fund Development of the Panuco Project
Prnewswire· 2025-09-05 07:15
Core Viewpoint - Vizsla Silver Corp. has secured a senior secured project finance facility of up to US$220 million with Macquarie Bank to fund the construction and development of the Panuco silver-gold project in Sinaloa, Mexico [1][4]. Financing Details - The facility will be arranged by a syndicate of banks, with Macquarie holding a 70% interest and managing the remaining 30% [2]. - An initial US$25 million early-drawdown tranche will be available for immediate funding, with the remaining balance contingent on customary conditions [3]. - The expected interest cost during construction is approximately 10%, with a margin of 5.75%, and below 10% post-completion with a margin of 5.25% [3]. Project Overview - The Panuco project is a high-grade silver-gold discovery covering 7,189.5 hectares, with over 86 kilometers of vein extent and existing infrastructure [8]. - The project has an updated mineral resource estimate of 222.4 million ounces of silver equivalent (AgEq) in measured and indicated resources, and 138.7 million ounces AgEq in inferred resources [10]. Company Strategy - Vizsla aims to become a leading silver company by advancing the Panuco project while continuing district-scale exploration [11]. - The company has received significant interest from multiple banks and alternative lenders, ultimately selecting Macquarie for its attractive cost of capital and alignment with the project timeline [4]. Development Progress - The Morgan test mine is providing evidence of the company's technical capabilities and operational discipline, validating assumptions for the feasibility study [5]. - The closing of the financing facility is targeted for Q1 2026, aligning with the broader project development schedule [6].
Pan American Silver Completes Acquisition of MAG Silver
Globenewswire· 2025-09-04 10:30
Core Viewpoint - Pan American Silver Corp has successfully completed the acquisition of MAG Silver Corp, enhancing its position as a leading silver producer and providing significant growth opportunities in silver production and reserves [1][2]. Transaction Details - The acquisition involved MAG shareholders receiving a total of US$500 million in cash and approximately 60.2 million shares of Pan American, resulting in former MAG shareholders owning about 14.3% of Pan American's shares on a fully diluted basis [3]. - The transaction adds a 44% joint venture interest in the high-grade Juanicipio silver mine in Zacatecas, Mexico, along with full ownership of the Larder exploration project and a 100% earn-in interest in the Deer Trail exploration project [1][2]. Strategic Implications - The Juanicipio Mine is expected to significantly contribute to Pan American's silver production, reserves, and cash flow, aligning with the company's growth-oriented strategy [2]. - The acquisition is anticipated to enhance the company's silver reserve base and provide substantial near-term cash flow growth and long-term exploration potential [1][8]. Market Impact - Following the completion of the transaction, MAG shares are set to be delisted from the Toronto Stock Exchange and NYSE American, ceasing trading on September 8, 2025, and September 4, 2025, respectively [5].
First Majestic Reports Positive Exploration Results at Los Gatos
Newsfile· 2025-09-03 20:34
Core Viewpoint - First Majestic Silver Corp. announced positive exploration results from its drilling programs at the Los Gatos Silver Mine, indicating significant mineralization of silver and base metals, which supports expectations for meaningful growth in Mineral Resources [1][2][3] Exploration Results - The exploration drilling targeted the South-East Deeps, Central Deeps, and North-West Deeps zones, with significant mineralization intersected across all three areas [3][7][11] - Notable drill hole intercepts include: - South-East Deeps: GA-SE-611 reported 9.0 meters at 366 g/t AgEq, including intervals with grades up to 742 g/t AgEq [3][4][16] - Central Deeps: GA-CZ-617 reported 3.7 meters at 534 g/t AgEq, with significant zinc and lead grades [5][16] Company Strategy - The acquisition of Gatos Silver was driven by the exploration potential of the Los Gatos district, and the latest drilling results reinforce this strategic decision [2] - Ongoing drilling aims to expand mineralization and confirm the continuity of the orebody, with future drilling planned to target down-plunge potential [8][11] Technical Details - The drilling programs follow established Quality Assurance/Quality Control protocols, ensuring the reliability of the assay results [20][21] - Significant intervals are calculated using length-weighted averages of uncapped sample assays, with a minimum AgEq grade of 140 g/t [19] Future Outlook - The company plans to continue its exploration efforts throughout 2025, with a focus on refining areas of interest and confirming mineralization controls in the Central and North-West Deeps zones [11][12]
Issue of Options under Employee Incentive Securities Plan
Thenewswire· 2025-09-02 23:50
Core Points - Mithril Silver and Gold Limited has issued 4,180,000 Options to key management, employees, and consultants under its Employee Incentive Securities Plan approved by shareholders at the November 2024 AGM [1][3] - Subject to shareholder approval at the 2025 AGM, the Company plans to issue an additional 5,200,000 Options to Directors and other key employees and contractors who are related parties [2] - The Options have an exercise price of $1.07 AUD per Option, which is a 50% premium to the closing price of the Company's shares on ASX on 1 September 2025, and an expiry date of 1 September 2028 [3] Company Strategy - The Employee Incentive Securities Plan aims to attract and retain key staff, linking their rewards to the achievement of strategic goals and the long-term performance of the Company [3][6] - The Plan aligns the financial interests of participants with those of shareholders, providing incentives for superior performance that creates shareholder value [6]
Kingsmen Updates Drilling Progress at Las Coloradas Silver Project in Chihuahua, Mexico
Newsfile· 2025-08-26 12:30
Core Viewpoint - Kingsmen Resources Ltd. has successfully completed its initial drilling program at the Las Coloradas silver project, confirming the potential for mineralization along the Soledad and Soledad II structures in the Parral mining district of Mexico [6]. Drilling Progress - A total of 3,227.2 meters of drilling has been completed across 12 core holes, targeting silver mineralized zones and geophysical survey-identified targets [2][3]. - The drill program focused on short segments of the Soledad (1.6 km) and Soledad II (1.2 km) structures, with no prior drilling conducted on these targets [4]. Geological Insights - Previous sampling in the Soledad and Soledad II structures indicated significant silver grades and some anomalous gold values, which had not been drilled before [3]. - The drilling aimed to validate the geological model and support the potential for a discovery, with significant lengths of the mineralized systems remaining to be tested [6]. Future Plans - The drill rig will remain on site until all assay results are received and geological data is compiled, with additional targets in the Saddle, Silvia, and La Plata zones yet to be explored [6]. Quality Assurance - The drill core is being geologically logged and sampled, with quality assurance measures in place, including the systematic insertion of certified standard reference materials [7][9].
Toronto Stock Exchange, AbraSilver Resource Corp., The View from the C-Suite
Newsfile· 2025-08-19 15:15
Company Overview - AbraSilver Resource Corp. is an advanced-stage exploration company focused on its 100%-owned Diablillos silver-gold project located in the Salta and Catamarca provinces of Argentina [3] - The company is listed on the Toronto Stock Exchange under the symbol "ABRA" and on the OTCQX in the U.S. under the symbol "ABBRF" [3] Project Details - The Diablillos project has a Proven and Probable Mineral Reserve estimate of 42.3 million tonnes (Mt) grading 91 grams per tonne (g/t) silver (Ag) and 0.81 g/t gold (Au) [3] - This reserve contains approximately 124 million ounces (Moz) of silver and 1.1 Moz of gold, with significant further exploration upside potential [3] Joint Venture - AbraSilver has entered into an earn-in option and joint venture agreement with Teck on the La Coipita project, which is also located in Argentina's San Juan province [3]