Deal will boost Coeur's silver production to 21Moz
Coeur Mining has agreed an all-stock US$1.7 billion friendly takeover of SilverCrest Metals with a 22% premium.Coeur said the deal will boost its silver production to 21Moz in 2025 through the addition of the Las Chispas mine in Sonora, Mexico to its recently expanded Rochester mine in Nevada, USA and its Palmarejo underground mine in Chihuahua, Mexico. The company will also produce 432,000oz of gold next year.SilverCrest shareholders will receive 1.
This immediate deleveraging, along with the significant combined expected free cash flow, will allow for rapid debt repayment and investment in other organic growth opportunities while offering shareholders an unparalleled re-rating opportunity," said Coeur Mining chair and chief executive Mitchell Krebs.The cash flow from Las Chispas will accelerate Coeur's deleveraging initiatives, adding $122 million in cash and bullion . Coeur ended the June quarter with $607 million in debt.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sky Mobile deal sees customers nab 'half price' Apple iPhone 16 dealThe new iPhone 16 is available to pre-order now before its release this Friday - and there are already a number of deals to be had, including one from Sky.
Read more »
Sky Mobile deal sees customers nab 'half price' Apple iPhone 16 dealThe new iPhone 16 is available to pre-order now before its release this Friday - and there are already a number of deals to be had, including one from Sky.
Read more »
Burnley handed major boost ahead of Leeds United trip as Esteve signs new dealCentre-back Maxime Esteve has committed his long term future to Burnley
Read more »
New U.S-Greece LNG Deal Will Boost Europe's Energy SecurityVenture Global, a U.S. LNG producer secured regasification capacity at an LNG terminal in Greece.
Read more »
Nigeria Hopes New Upstream Deal Will Boost Its Oil Production to 2 Million BpdNigeria's acquisition of Eni's Nigerian Agip Oil Company NAOC by Oando aims to boost oil production to 2 million barrels per day bpd by the end of 2024.
Read more »
Lidl's 2-in-1 cordless vacuum cleaner is a dupe of the £400 Shark... and it's yours for £32.49 this weekLidl's Silvercrest 2-in-1 cordless vacuum cleaner dupe of Shark's £399.99 model is on sale for £32.49 this week
Read more »