Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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First Majestic Completes Acquisition of Jerritt Canyon Mine in Nevada, USA and Private Placement with Eric Sprott
All amounts are in U.S. dollars unless otherwise stated
Vancouver, BC, Canada - First Majestic Silver Corp. ("First Majestic" or the “Company”) (TSX:FR) (NYSE:AG) and Sprott Mining Inc. ("Sprott Mining") are pleased to announce the completion of the acquisition of Jerritt Canyon Canada Ltd. ("Jerritt Canyon") from Sprott Mining (the "Acquisition") and concurrent $30 million private placement investment in First Majestic by Eric Sprott, previously announced in the joint news release of First Majestic and Sprott Mining dated March 12, 2021.
Under the Acquisition, which took effect as of 9:00 AM PT on April 30, 2021, First Majestic has acquired all of the issued and outstanding common shares of Jerritt Canyon in exchange for 26,719,727 common shares of First Majestic and 5,000,000 common share purchase warrants at an exercise price of $20.00 per share for a term of three years. The $30 million private placement was completed by Eric Sprott at a price of $17.59 per share for a total of 1,705,514 common shares. As a result of Mr. Sprott’s participation in the transactions, Mr. Sprott beneficially owns and controls an aggregate of 28,425,241 common shares and 5,000,000 warrants, representing approximately 11.3% of the Company’s issued and outstanding common shares on an undiluted basis and 13.0% on a partially diluted basis.
Keith Neumeyer, President and CEO of First Majestic said, “With this closing, First Majestic adds another cornerstone asset to the portfolio and enhances our operating platform in a world-class mining jurisdiction. We look forward to commencing our work with the operating team at Jerritt Canyon to create value for our shareholders and welcome Eric Sprott as a continued significant shareholder in First Majestic going forward. In the near future, we will be communicating our plan for Jerritt Canyon which will include ways to further improve productivity and reduce operating costs.”
Mr. Sprott acquired the common shares in connection with the transactions for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of First Majestic including on the open market or through private acquisitions or sell securities of First Majestic including on the open market or through private dispositions in the future subject to certain resale restrictions, market conditions, reformulation of plans and/or other relevant factors.
ABOUT THE COMPANY
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the La Encantada Silver Mine and the Jerritt Canyon Gold Mine.
FOR FURTHER INFORMATION contact info@firstmajestic.com, visit ou
I just watched on RT the Renegade Inc episode on silver..thats what got me thinking although i have been following this since the first go at a squeeze after the gamestop short squeeze
brain fade of course Fresnillo thanks....i have been in and out of that seems to have come off it's highs lately and those were no highs of the to so distand past it's hit 16 and 20 quid before in the last 5 years at times
And this is one of the axes i had to grind with the EU allowing the like s of Starbucks and Amazon to set up shop in wherever Luxembourg, Dublin etc and get preferential treatment...that needed squashing like a bug right at the outset. Of course in cards they say play the man...and let's look at both the US and at Biden...they are not doing this out of any higher motive they are doing it for revenue pure and simple..... of course old Keiser did have a point that they had to keep taxing people because once people realised they(the US) can just print at will because of the reserve currency status...then all the sheep would stop working and demand free money....and amazingly because of covid this has actually started to happen !
Spindler Fresnillo is the largest silver miner in the world. I hold a large chunk in that as well as CEY. I’m not sure if you have read about wallstreetsilver on Redditt it’s definitely worth checking out it’s gaining massive traction over there it has over 75k followers all stacking silver
and that sounds like feudalism to me
Mr T isn't this just an extension of what they have been doing on an individual basis ? Ex pat Yanks can never escape tax filing in the US unless they renunce the citizenship. There was an article i read some time back an ex pat in switzerland some 30 odd years finally relinquishing his citizenship and they didn;t make it easy and it cost circa 10k USD. Old Max Keiser once commented they don;t really need tax dollars because they are all dollars that they print...i don;t think it's that simple they want your debt note to get the dollars and then they get the dollars back and they still have your debt note....
In order to diversify so i don;t have all eggs in CEY. What are the best silver miners to invest in any thoughts ? As far as FTSE goes There is Hoc which I've been in multiple times...seems there's some political trouble brewing on their patch though ? And Poly but i think that's it on the FTSE ? No issue buying on other exchanges so tips there welcome
120 by close of this week for sure!!!
Gold will fly in May!!
Fair comments Mr ,Gnome, Spindler & Mr Bond,
If you listen to my post BBC Business Matters from the World Service Biden's proposals on World Wide corporate tax rate seem quite reasonable , it's interesting to note that there is some consensus of opinion between the EU,Russia,China & now the US .
Of course dependent on if the UK are in favour this may have tax implications for Centamin as they are based in Jersey.
It seems that if Google is paying 12.5% tax in Dublin then under Biden's proposals then the Irish government would be required to collect the difference 8.5%from from Google on behalf of the US.
It would be interesting to learn of the justification in awarding Youssef so many free share's?
Possibly some special award for exemplary performance in something or other?
Good news about the Solar plant though!
Considering both Chinese and Japanese markets were both closed last night ,Gold has held on well.
GLA
Interesting indeed. Proper boomer mentality. Major pullbacks bound to happen at some point to cool off but even a tiny bit of research in that space and deploying a 2-5% of one's portfolio a year ago (or even beginning of the yr ffs) would have given a few 100% return which could then easily have been trimmed and re-balanced back to under 5%. Nothing wrong in diversifying after some research and due diligence. Happy investing gents and GL to us all.
it would be lovely to know what Hogan invests in that he thinks will make more than Cey and we could too
I have no problem with Martin Horgan being well compensated provided he delivers.
Pay peanuts and we will have monkeys ......
Very few real audits on any aspect of the financial system lol
Good luck all!
The gnome
Hi Spindler, been thinking the same for years.
Probably why no Audit and a good reason for them not to have a proper outside Audit.
Now or in the future.
My thought of the day:
Things are starting to get interesting around Gold and China and Russia circumnavigating the dollar. If the USA was a person they would be psychopathic. Ft Knox has not been audited in how long ?(not that i would trust an audit) I would not be in the least surprised if the US has virtually no gold at all. The so called elite, power brokers, politicians, snakeoil salesmen et al. Have quite happily sold the majority of the population down the river long long ago by selling off the manufacturing prowess so whad ya reckon the gold has been rehypothecated over and over again and eventually physically gone ? So they will in the end try and use their military to stave off the collapse of empire...good luck with that..it;s over for the US and in this century too...the next thing to watch is the elite moving out of the US ..those first movers to florida and texas are just the tip of the monied classes already making themselves flexible. Saw Intel are now behind in not only production of chips but also technology because they didn;t invest they spent a decade doing share buy backs...this is what the US is now a shell game..so once again ,,,do they even have any gold ?
Maybe, Hogan thinks we will forget he has only bought only 40,000 shares with cash out of his own pocket when he is being paid £2m a year tax free.
Makes interesting reading Yoseph,Hogan and Jarrard get their free share and the Solar plant up and running next year.
Exactly, they are setting up all the right behaviours!
Ethereum just joining the high ranks, up 9 % in last 24 hours, and lobbing in at Mkt Cap of $400b. More than Rio and BHP combined!
Interesting times, and what price a dutch tulip?
best
the gnome
Shares on the major European stock market indexes were mostly unchanged in the premarket trade on Tuesday, as the investors monitored the diplomatic feud between Russia and the European Union. The turmoil mounted as the European Commission's officials summoned Russia's ambassador to the EU to strongly reject Russia's sanctions against eight of Brussels' representatives.
Meanwhile, the traders also digested Federal Reserve Chairman Jerome Powell's remarks from the day before. Powell described the economic outlook as "brightened," while underlining that certain aspects of it are expected to continue to struggle in the period to come.
The DAX and the CAC 40 stood flat at 8:02 am CET, while the FTSE 100 went up by 0.44% a minute later. The euro decreased by 0.23% compared to the dollar, selling for 1.20354 at 8:04 am CET, while the pound slid 0.19%, to go for $1.38832 at the same time.
Breaking the News / BU
Buy a load of gold bars and stick them in a safety deposit box!
Going back to the left now in USA. One extreme to the other
>Wealthy families could face combined tax rates of as much as 61% on inherited wealth under President Joe Biden’s tax plan, according to a recent analysis.
>Biden’s plan proposes to nearly double the top tax rate on capital gains and eliminate a tax benefit on appreciated assets known as the “step-up in basis.”
>The combined tax rate would be the highest in nearly a century, according to the tax policy research group.
https://www.cnbc.com/2021/05/03/wealthy-may-face-up-to-61percent-tax-rate-on-inherited-wealth-under-biden-plan.html
should put a fire under someone?!
best
the gnome.
As you say chaps hopefully a better week for all the precious metal miners.
Reports were all over bloomberg over the weekend that fund managers are coming around to the fact the miners might actually be far profitable this year on rising prices, and also that the rich Americans are rushing for their precious metals ETF's which will help sustain the price rises. I do not believe Hedge find managers will bet against Gold especially when they are buying in to and have already sold some very lucrative deals for the miners (did you all read the last HOC report). The prices being offered look good to me and so some will be expecting the market pries to rise up from here in fact. It will be good to get the week off to a good start. Usd falling to will help Gold.