Las Chispas to rebirth company
More silver consolidation could be in the future as companies scramble to get access to primary silver assets in as the metal price rises, Mitchell Krebs , President & CEO of Coeur Mining told Mining Journal.Coeur's US$1.7 billion all-stock bid for SilverCrest Metals and its high-grade Las Chispas mine in Sonora, Mexico, comes hot on the heels of First Majestic Silver's $970 million bid for Gatos Silver and its Los Gatos mine in Chihuahua.
Las Chispas average grade is 25 times higher than our company average. On the cost side, the Las Chispas cash costs per ounce are about 35% lower than our company average. It has a pristine balance sheet of over $120 million of cash and bullion and no debt. On day one, our company's leverage ratio will reduce by 40%," said Krebbs.
Las Chispas Palmarejo Wharf Rochester
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