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Two of the biggest publicly traded players in silver are coming together to take advantage of the rising prices of precious metals.
What’s happening:
- Couer Mining (NYSE: CDE) has announced they will acquire SilverCrest Metals (NYSE: SILV) in an all stock deal worth $1.7B USD
Why it matters:
- The price of both gold and silver has been spiking to fresh highs lately, which has led to a significant uptick in profitability for the world’s largest publicly traded mining companies
- SilverCrest’s underground mine Las Chispas which is located in Sonora, Mexico is one of the world’s highest grade and lowest cost producing silver mines
By the numbers:
- The price of silver is up +11% over the last 30 days
- Once the acquisition is complete, Couer Mining expects they will produce 21M announces of silver annually
Going deeper:
- Mergers and acquisitions have also been heating up around precious metals, with mining giants BHP (NYSE: BHP) and Lundin (TSX: LUN) previously coming together to purchase Filo Mining (TSX: FILO) in a multi billion dollar deal
The intrigue:
- The surge in gold and silver prices has also begun to bring new excitement towards smaller publicly listed exploration companies in the United States, as many begin to speculate that large mining companies will begin to ramp up both acquisitions and investments into promising projects that are yet to be fully developed
