Santacruz Silver Mining Ltd. made a second US$7.5M payment to Glencore on May 6, 2025, toward acquiring Bolivian assets, following a US$10M payment in March. The US$40M payment plan, set to conclude by October 31, 2025, aims to save US$40M. CEO Arturo Préstamo emphasized financial discipline and Glencore’s support in driving shareholder value.
Questcorp Mining Inc. signed an option agreement on May 5, 2025, to acquire 100% of the 2,520-ha La Union polymetallic CRD project in Sonora, Mexico, from Riverside Resources. Terms: staged cash ($100K total), 19.9% shares issuance, $5.5M exploration over 4 years; 2.5% NSR. NI 43-101 report completed, recommends drilling for Au-Ag-Zn-Pb-Cu potential.
Sierra Metals Inc. reports that Alpayana S.A.C. raised its take-over bid for all Sierra common shares from C$1.11 to C$1.15 per share. After a strategic review, Sierra’s Board, advised by BMO, makes no recommendation on the offer due to its high conditionality and uncertainty. Shareholders are urged to review the offer and a forthcoming Notice of Change. The offer expires May 12, 2025.
Trafigura Group Pte Ltd. raised a record USD390M through a US Private Placement on May 6, 2025, across four tenors, including a new 12-year tranche. The placement, upsized from USD100M due to strong demand, refinances USD102M of maturities and adds USD288M in liquidity. Citi and MUFG acted as agents, with funding set for May 30, 2025.
Discovery Silver Corp. filed a final short form base shelf prospectus on May 5, 2025, replacing its March 2023 prospectus. The filing allows potential offerings of up to C$500M in securities over 25 months, enhancing financial flexibility for future business developments. Specific terms and use of proceeds will be detailed in future prospectus supplements.
Aura Minerals reported Q1 2025 results: production of 60,087 GEO; net revenue $161.8M (up vs. last year but slightly down vs. Q4 2024); gross profit $78.4M; Adjusted EBITDA $81.5M; adjusted net income up versus prior year; operating cash flow $41.2M; and net debt/LTM EBITDA ~0.9×. Borborema project started operations on schedule.
Chesapeake Gold Corp. announces Alan Pangbourne’s immediate resignation as director to pursue other opportunities. The company thanks him for his service and wishes him well.
Vizsla Silver Corp. announced on May 5, 2025, the full resumption of field work at its flagship Panuco silver-gold project in Sinaloa, Mexico, following a temporary pause due to security concerns. Activities include test mine development, exploration/geotechnical drilling, mapping, and surveys. Plans: advance Feasibility Study and seek Project #2 in H2 2025.
IMPACT Silver reported record FY 2024 revenue of $31.9 M, a 53% increase from 2023, driven by higher production at Zacualpan and Plomosas. The company returned to net profit in Q4 2024 with $1.6 M net income vs a loss last year. It ended the year with $7.1 M cash, $9.0 M working capital, and no long-term debt.
Apollo Silver appointed Ross McElroy as its new President and CEO, succeeding Andrew Bowering (who will remain Chair of the Board). McElroy is a professional geologist with 38+ years of mining industry experience, including co-founding and leading Fission Uranium to a US$1.14 billion sale. He also received 2,500,000 stock options as part of his appointment.
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