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Overview
SilverCrest Metals Inc. (SILV) is a Canadian precious metals producer headquartered in Vancouver, BC, renowned for its disciplined approach in exploring, acquiring, and transforming prospects into production assets. Operating primarily within Mexico’s celebrated precious metal districts, the company has developed a robust portfolio of silver and gold projects through a proven, phased approach that progresses seamlessly from early-stage discovery to construction and production.
Business Model and Operations
At its core, SilverCrest Metals follows a strategy that emphasizes a responsible, step-by-step progression through each project phase. The company leverages its extensive expertise not only in exploration and resource identification but also in managing the operational complexities of mine development and production. This phased approach underpins its capability to maintain projects on time and within budget, while significantly enhancing shareholder value over time.
Key operational components include:
- Exploration and Discovery: Utilizing advanced geological techniques, SilverCrest is dedicated to uncovering new high-potential precious metals deposits in historically prolific regions.
- Value-Added Acquisitions: By acquiring promising assets and integrating them with its existing portfolio, the company bolsters its resource base and extends operational capabilities.
- Phased Development: From feasibility studies and financing to construction and production, the company employs a structured, risk-managed approach that emphasizes safety, operational efficiency, and cost control.
- Underground Mining and Processing: With an emphasis on underground operations, SilverCrest integrates modern processing techniques to efficiently extract and process precious metals, ensuring high recovery rates and maintaining competitive cost structures.
Market Position and Industry Relevance
SilverCrest holds a significant position within the competitive precious metals mining sector. Its focus on Mexico’s historic mining regions and use of innovative, responsible practices has allowed it to establish a noteworthy reputation for operational consistency and technical competence.
The company’s expertise is further demonstrated by its deep understanding of geological trends and its meticulous operational planning - aspects that contribute to its resilience in fluctuating market conditions. Investors and industry observers alike can view SilverCrest as a company grounded in solid operational fundamentals, with an experienced management team that guides every project with precision.
Expertise, Experience, and Trust
SilverCrest’s management team comprises industry veterans skilled in every facet of precious metals mining. Their hands-on experience in taking projects from initial discovery through to commercial production constitutes a cornerstone of the company’s operational success. This extensive field experience, combined with stringent cost controls and a commitment to safety and environmental responsibility, reinforces the company’s expert standing among industry peers.
Key Takeaways
In summary, SilverCrest Metals Inc. distinguishes itself through:
- A focused business model centered on exploration, acquisition, and phased production.
- Operational excellence in underground mining and efficient metallurgical processing.
- An experienced management team renowned for its strategic and cost-efficient project execution.
- A commitment to maintaining operational safety, value creation, and rigorous risk management.
This comprehensive approach not only enhances the company’s market position but also provides investors with a clear understanding of its strengths within the broader precious metals industry.
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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