Coeur to acquire JDS’ Silvertip mine in BC for US$200M

VANCOUVER — U.S.-based Coeur Mining (NYSE: CDE) is coming to British Columbia pending a US$200-million cash-and-shares deal for JDS Silver and the fledgling Silvertip silver-zinc-lead mine 16 […]
VANCOUVER — U.S.-based Coeur Mining (NYSE: CDE) is coming to British Columbia pending a US$200-million cash-and-shares deal for JDS Silver and the fledgling Silvertip silver-zinc-lead mine 16 km south of the Yukon border. The company plans to close the underground operation for around six months to optimize its mine plan, and pursue permit amendments to boost throughput from 500 tonnes to 1,000 tonnes per day. Coeur will pay US$146.5 million in cash, US$38.5 million in shares, and assume US$15 million in outstanding debt. Furthermore, the company has committed to additional payments of US$50 million contingent on achieving specific future permitting and exploration milestones. JDS Silver is a private mining subsidiary of engineering firm JDS Energy and Mining, which bought the asset from Silvercorp Metals (TSX: SVM) for $15.5 million in late 2013. The company is backed by U.S. private equity firm Denham Capital, which invested US$65 million in Silvertip in October 2016. Continue reading at The Northern Miner.

Comments

Your email address will not be published. Required fields are marked *

Jan 18 2022 - Jan 20 2022
Jan 31 2022 - Feb 03 2022
Feb 06 2022 - Feb 08 2022