First Majestic Silver (TSE:AG) has released an update.
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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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