Prospector News Publisher, Michael Fox is joined by Guanajuato Silver’s CEO and Chairman of the Board to discuss GSilver’s recent purchase of Great Panther Mining’s Mexican Silver Properties for $14.7M including the producing Topia mine and production facility, the San Ignacio mine, the Guanajuato Mine Complex and the Cata processing plant. GSilver will henceforth refer to GMC as the Valenciana mine.
• GSilver’s operations will expand from two mines and one production facility to five mines and three production facilities.
• The acquisition includes the Topia mine, located in Durango, Mexico which is currently producing concentrates containing silver, lead, zinc, and gold.
• Significant lead financing orders have been confirmed from Ocean Partners (UK) Ltd. and from an affiliate of OCIM Metals and Mining.
• 2021 total silver equivalent production at Topia was 1,129,611 Ag Eq ounces. (1)
• 2021 total silver equivalent production at the Valenciana and San Ignacio mines and Cata processing plant was 1,051,336 AgEq ounces. (1)
• Total consideration of USD$14.7M; satisfied by US$6,700,000 in GSilver Shares and US$8,000,000 in cash
Ramon Davila, President and Director of GSilver said, “This acquisition will prove instantly accretive; the Topia Mine is currently producing and will immediately lift GSilver’s production profile. Within the Guanajuato mining district, the San Ignacio and Valenciana mines were put on care and maintenance less than eight months ago only due to a lack of available tailings facilities; GSilver plans to swiftly re-start production from these mines and process the mineralized material using the excess capacity at our nearby El Cubo production facilities. This acquisition keeps us on course to expeditiously establish GSilver as a mid-tier precious metals producer in Mexico.”
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We acknowledge the [financial] support of the Government of Canada.