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SilverCrest Metals Inc. (TSX: SILV, NYSE American: SILV) is a leading Canadian precious metals exploration and mining company headquartered in Vancouver, BC. Dedicated to the discovery, acquisition, development, and production of precious metal projects, the company focuses particularly on silver and gold. SilverCrest is renowned for its principal project, the Las Chispas Operation, located in Sonora, Mexico, an area with a rich history in precious metal mining.
Led by an experienced management team, SilverCrest Metals employs a responsible phased approach to project development, from discovery and financing to construction and production. This strategy aims to deliver on time and within budget, ultimately increasing shareholder value. N. Eric Fier, CEO, shapes the company's vision and operational strategies, ensuring sustainable growth and financial resilience.
In 2023, the Las Chispas Operation demonstrated robust performance, meeting and exceeding sales guidance, and maintaining low operational costs. The operation sold over 9.8 million ounces of silver equivalent (AgEq) by the end of Q3 2023, positioning the company to deliver on its annual guidance of 9.8-10.2 million ounces AgEq. The successful ramp-up of the underground mining rates, alongside efficient processing plant operations, reflected SilverCrest's commitment to operational excellence.
Financially, SilverCrest remains strong with significant treasury assets, reporting $105.2 million at the end of 2023, including $86 million in cash and $19.2 million in bullion. The company is debt-free and has an undrawn revolving facility of $70 million, providing ample liquidity for future investments. This financial stability allowed SilverCrest to undertake share buybacks and increase its bullion holdings, underscoring its commitment to returning capital to shareholders and enhancing asset value.
Looking ahead, SilverCrest plans to continue its exploration efforts at Las Chispas, focusing on converting inferred resources to indicated ones for reserve consideration. The exploration program is well-funded with an approved budget of $12-14 million for 2024, which also includes regional exploration activities to identify potential satellite deposits that could extend the mine's life.
SilverCrest's commitment to environmental, social, and governance (ESG) principles is demonstrated through various initiatives, including water stewardship projects and community engagement in Sonora. In 2023, the company invested $0.4 million in local infrastructure, earning recognition for its social responsibility practices in Mexico.
Stay updated with the latest news and developments of SilverCrest Metals Inc. through our regular news releases and financial reports, ensuring transparent communication with our stakeholders and investors.
SilverCrest Metals has received final court approval from the Supreme Court of British Columbia for its planned arrangement with Coeur Mining. Under the arrangement, Coeur will acquire all outstanding SilverCrest shares, with shareholders receiving 1.6022 Coeur common shares for each SilverCrest share held.
The transaction is expected to close around February 14, 2025. Following the closing, SilverCrest shares will be delisted from both the Toronto Stock Exchange and NYSE American. The company will then cease to be a reporting issuer in Canada and will deregister its shares under the U.S. Securities Exchange Act of 1934.
SilverCrest Metals (TSX: SIL | NYSE American: SILV) announced that its securityholders have overwhelmingly approved the plan of arrangement with Coeur Mining. The transaction, which will result in Coeur indirectly acquiring all outstanding SilverCrest shares, received strong support with approximately 99.32% approval from shareholders.
The arrangement was approved by three key voting groups: regular shareholders (99.32%), combined shareholders and optionholders (99.34%), and minority shareholders excluding certain restricted votes (99.31%). The transaction's closing is anticipated for February 14, 2025, pending final approval from the Supreme Court of British Columbia and other customary closing conditions.
SilverCrest Metals has received approval from Mexico's antitrust authority (COFECE) for its planned arrangement with Coeur Mining. Under the arrangement, Coeur will acquire all outstanding SilverCrest shares, with shareholders receiving 1.6022 Coeur common stock for each SilverCrest share.
The transaction is expected to close around February 14, 2025, subject to remaining approvals, including shareholder approval at a special meeting on February 6, 2025. Following the closure, SilverCrest shares will be delisted from both the Toronto Stock Exchange and NYSE American.
The Board of Directors unanimously recommends shareholders and optionholders vote 'FOR' the arrangement. Securityholders must submit their proxies before February 4, 2025, at 10:00 a.m. Vancouver time.
SilverCrest Metals (TSX: SIL | NYSE American: SILV) has issued a reminder to securityholders regarding the upcoming voting deadline for their special meeting scheduled for February 6, 2025. The meeting aims to approve a plan of arrangement with Coeur Mining.
The proxy voting deadline is set for February 4, 2025, at 10:00 am (Vancouver Time). The Board of Directors has unanimously recommended that shareholders and optionholders vote 'FOR' the Arrangement.
The meeting will be held at Cassels Brock & Blackwell LLP offices in Vancouver and will also be accessible via live webcast, though virtual attendees cannot participate or vote. Securityholders requiring assistance can contact Laurel Hill Advisory Group through their toll-free numbers or email.
SilverCrest Metals reported strong Q4 2024 and full-year operational results from its Las Chispas Operation in Mexico. In Q4 2024, the company recovered 13,993 oz gold and 1.38M oz silver, generating revenue of $85.2M, a 6% increase from Q3. Treasury assets rose to $193.4M.
For FY 2024, SilverCrest exceeded sales guidance with 59,804 oz gold and 5.75M oz silver sold, generating record revenue of $301.9M, a 23% increase from 2023. The company achieved a 15% beat on tonnes mined versus budget and exceeded budgeted silver equivalent processed grades by 7%.
The company's pending transaction with Coeur Mining remains on track to close in Q1 2025, with a special shareholder meeting scheduled for February 6, 2025.
SilverCrest Metals announced the filing and mailing of meeting materials for a special meeting regarding the proposed arrangement with Coeur Mining. Under the arrangement, SilverCrest shareholders will receive 1.6022 Coeur shares for each SilverCrest share, representing US$11.34 per share and an 18% premium based on 20-day volume-weighted average prices as of October 3, 2024.
The total equity value is approximately US$1.7 billion. After completion, existing Coeur stockholders and SilverCrest shareholders will own 63% and 37% of the combined company, respectively. The combined entity is expected to generate approximately US$700 million in EBITDA and US$350 million in free cash flow in 2025.
The special meeting will be held on February 6, 2025, with a proxy voting deadline of February 4, 2025. The Board unanimously recommends shareholders vote FOR the arrangement.
SilverCrest Metals reported strong Q3 2024 financial results with record quarterly revenue of $80.4 million and mine operating earnings of $47.0 million. The company achieved net earnings of $9.5 million ($0.06 per share) and free cash flow of $36.2 million ($0.24 per share). Production reached 2.6 million oz silver equivalent with cash costs of $8.85/oz AgEq and AISC of $13.72/oz AgEq. Treasury assets grew 29% to $158.2 million. Mining rates increased 23% to 1,350 tonnes per day, while mill throughput averaged 1,324 tpd. The company remains on track to meet or exceed its 2024 guidance for sales, cash costs, and AISC.
SilverCrest Metals Inc. (TSX: SIL | NYSE American: SILV) has released its Q3 2024 operational results for the Las Chispas Operation in Sonora, Mexico. Key highlights include:
- Record revenue of $80.4 million, up 10% from Q2 2024
- Recovered 2.60 million silver equivalent (AgEq) ounces
- Sold 2.66 million AgEq ounces
- Average realized prices: $2,472/oz gold and $29.48/oz silver
- Treasury assets increased 29% to $158.2 million
The company is well-positioned to meet or exceed its 2024 annual sales guidance of 10 to 10.3 million ounces AgEq. Ore mined increased by 24% from the previous quarter, and the plant underwent successful capacity testing. Full financial results will be released on November 12, 2024.
Coeur Mining (NYSE: CDE) has announced its acquisition of SilverCrest Metals (TSX: SIL; NYSE American: SILV) to create a leading global silver company. The transaction, valued at approximately $1.7 billion, will see SilverCrest shareholders receive 1.6022 Coeur common shares for each SilverCrest share. This represents an 18% premium based on 20-day volume-weighted average prices.
Key highlights of the acquisition include:
- Creation of a leading global silver company with expected 2025 production of 21 million ounces of silver and 432,000 ounces of gold
- Addition of the high-grade, low-cost Las Chispas mine to Coeur's portfolio
- Expected generation of $700 million EBITDA and $350 million free cash flow in 2025
- Immediate 40% reduction in Coeur's leverage ratio upon closing
- Two SilverCrest directors, including CEO N. Eric Fier, to join Coeur's board
The transaction is expected to close in late Q1 2025, subject to shareholder and regulatory approvals.
Coeur Mining (NYSE: CDE) has announced the acquisition of SilverCrest Metals to create a leading global silver company. The transaction, valued at approximately $1.7 billion, will see SilverCrest shareholders receive 1.6022 Coeur common shares for each SilverCrest share. This represents an 18% premium based on 20-day volume-weighted average prices.
Key highlights of the acquisition include:
- Creation of a leading global silver company with expected 2025 production of 21 million ounces of silver and 432,000 ounces of gold
- Addition of the high-grade, low-cost Las Chispas mine to Coeur's portfolio
- Expected generation of $700 million EBITDA and $350 million free cash flow in 2025
- Immediate 40% reduction in Coeur's leverage ratio upon closing
- Addition of two SilverCrest directors to Coeur's board
The transaction is expected to close in late Q1 2025, subject to shareholder and regulatory approvals.
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