Guanajuato Silver Company announced on Tuesday that it has arranged a private placement of approximately 33.3 million units priced at C$0.24 each for proceeds of C$8 million. Anchoring the financing is Canadian mining billionaire Eric Sprott, who will purchase C$3 million of the units.
“We are extremely pleased to welcome the participation of Eric Sprott in this financing. His continued support is a strong endorsement of Guanajuato Silver’s vision and potential,” CEO James Anderson said in a news release. Guanajuato Silver currently operates four mines: El Cubo, Valenciana mines complex and San Ignacio mine in Guanajuato, and the Topia mine in northwestern Durango. Last year, the company saw its highest ever production in silver-equivalent terms at 3.5 million ounces, a 64% increase over 2022.
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