- Write by:
-
Monday, May 3, 2021 - 13:53:43
-
379 Visit
-
Print
Mining News Pro - Majestic Silver has added another cornerstone asset to its portfolio, with the closing last week of the acquisition of the Jerritt Canyon mine, in Nevada, from Sprott Mining.
Concurrently, the TSX- and NYSE-listed precious metals miner concluded a $30-million private placement investment by Eric Sprott, who now owns about 11.3% of its shares on an undiluted basis.
“We look forward to commencing our work with the operating team at Jerrit Canyon to create value for our shareholders and welcome Eric Sprott as a continued significant shareholder in First Majestic going forward,” commented president and CEO Keith Neumeyer.
He added in a statement that First Majestic would be communicating its plan for Jerritt Canyon in the near future.
Jerritt Canyon, which was discovered in 1972, has been in production since 1981 having produced more than 9.5-million ounces of gold over its 40-year production history.
The mine currently operates as an underground mine and has one of three permitted gold processing plants in Nevada that uses roasting in its treatment of ore. This processing plant has a capacity of 4 500 t/d and is currently operating at an average rate of about 2 200 t/d, owing to limited ore production from two underground mines.
The property also consists of a large, underexplored land package consisting of 30 821 ha.
Short Link:
https://www.miningnews.ir/En/News/613362
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that ...
AbraSilver Resource said on Monday it has received investments from both Kinross Gold and Central Puerto, Argentina’s ...
Gold took a tumble as haven demand waned after geopolitical tensions eased in the Middle East.
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares ...
The four largest indigenous communities in Chile’s Atacama salt flat suspended dialogue with state-run copper giant ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
Representatives from the Peñas Negras Indigenous community, in northwestern Argentina, clashed with heavily armed police ...
No comments have been posted yet ...