Read the Beforeitsnews.com story here. Advertise at Before It's News here.

By Mining Corner
Contributor profile | More stories

Story Views
Now:
Last hour:
Last 24 hours:
Total:

Silvercrest to be acquired by Coeur Mining

Saturday, October 5, 2024 18:09

% of readers think this story is Fact. Add your two cents.

SilverCrest Metals and Coeur Mining have reached a deal for Coeur Mining to acquire Silver Crest in an all shares deal.

After the recent acquisition news of Gatos Silver to be acquired by First Majestic, this is the second successful silver junior producer being acquired. Recently, the ongoing consolidation in the silver space is eclipsing merger and acquisition news in the much more diverse gold mining sector.

A short video-clip:

On Oct 3rd, before the news, the take-over meant a premium of 22% for SilverCrest Metals. Following the news, Coeur Mining nosedived 9.48% in trading on Friday. closing at $6.41, while SilverCrest Metals rallied 9.04% closing at $10.13.

Coeur Mining to buy SilverCrest for $1.7 billion in bets on silver boom is what Reuters titled.

The 1.6022 share price ratio as announced in the press report, nearly materialized at the Friday Oct 4 close. The ratio stands at 1.58 now.

Historic track record of both silver miners

The historic track record of the incumbent silver producer Coeur Mining (CDE and previously Coeur d’Alène) is lack-luster to say the least. It is one of the less successful silver miners on the gold-miner-pulse list which I have been maintaining since November 2010. On Sept 27 (days before the news) CDE was down 57.6% since inclusion. As a junior miner, the Australian SilverCrest (SILV) has evolved from a sucessful explorer developer to a junior silver producer over the last decade. On Sep 27, this silver miner was up 222% since inclusion.

Much of the outperformance has been over the last 12 months, during which silver has risen to well over $30 for the first time since 2012. Note that late April 2011 silver peaked at a sigh of $50/Oz, a price level it once attained at the end of the Hunt brothers speculative frenzy in 1980.

As a result of the acquisition announcement the stock performance disparity has only grown. CDE currently has a market cap of $2.56 B, while the Australian SILV has a market cap of $1.51 B on Nasdaq. SilverCrest shareholders will own about 38% of Coeur Mining after the acquisition.

Source: https://gwyde.blogspot.com/2024/10/silvercrest-to-be-acquired-by-coeur.html

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

LION'S MANE PRODUCT

Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules

Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.

Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.

Comments

Online:
Visits:	1,686,353,534
Stories:	8,385,920