First Majestic Silver (TSE:AG) has released an update.
First Majestic Silver Corp. is set to acquire Gatos Silver, enhancing its silver production profile with the addition of the Cerro Los Gatos mine in Mexico, and offering Gatos shareholders a 16% premium with a total equity value of approximately $970 million. This strategic move consolidates key silver mining districts, boosts annual production to 30-32 million ounces, and is expected to generate significant free cash flow. The merger will result in a larger company with a strong balance sheet, and is anticipated to close in early 2025.
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