Precious metals producer First Majestic Silver (NYSE:AG) (TSX:AG) (FSE:FMV) is buying fellow Canadian explorer and developer Gatos Silver (NYSE, TSX:GATO) in an all-share transaction valued at $970 million.
The move hands First Majestic a group of high-grade, large silver deposits in the Los Gatos district of Mexico’s Chihuahua state.
Gatos shareholders would receive 2.550 common shares of First Majestic, or $13.49, for each share they own. After the closing, expected in early 2025, the combined company would have a production of 30 to 32 million ounces of silver-equivalent a year.
The Los Gatos district comprises 14 mineralized zones identified to date, including three silver-lead-zinc deposits: the Cerro Los Gatos mine, the Esther deposit, and the Amapola deposit.
More to come…
Source: MINING.COM – Read More
