Guanajuato Silver Company Ltd Stock Price, News & Analysis

Guanajuato Silver Company Ltd. has expanded its non-brokered private placement to raise a total of $9.53 million. The placement will consist of 17,322,488 units priced at $0.55 each, with each unit comprising one common share and one half warrant, exercisable at $0.75 within two years. The initial tranche of 14,901,672 units raised $8.2 million. The final tranche is expected to close on December 7, 2021. GSilver operates the El Cubo mine and is planning to restart production at the El Pinguico mine.

Guanajuato Silver Company Ltd. (GSVRF) has successfully closed the first tranche of a non-brokered private placement, raising C$8,195,920 by issuing 14,957,672 units priced at C$0.55 each. Each unit comprises a common share and a warrant, allowing a purchase of additional shares at C$0.75. The funding will support the ongoing exploration and development of the El Cubo mine and the El Pinguico project. Major shareholders participated in this offering, reflecting confidence in the company’s growth strategy. Additionally, GSilver issued 901,224 shares to Endeavour Silver for a VAT settlement.

Guanajuato Silver Company Ltd. (OTCQX:GSVRF) announced a production update regarding its El Cubo mine in Mexico. The company reported obtaining approximately US$750,000 from a recent sale of precious metals concentrate, with a forthcoming payment of about US$1,300,000. Mine production is ramping up, averaging 950 tonnes per day, and recoveries of silver and gold are performing at 85% and 74%, respectively. Additionally, the size of a private placement has expanded to US$8.8 million in response to high demand.

Guanajuato Silver Company Ltd. (GSVRF) announced a non-brokered private placement offering of 15 million units at $0.55 per unit, aiming for gross proceeds of C$8.25 million. Major stakeholders, including Endeavour Silver Corp., subscribed for 5.75 million units, increasing their share to 12.63% post-offering. The funds will support ongoing exploration and development at the El Cubo mine and El Pinguico project. The offering is pending acceptance from the TSXV, with an initial closing expected by November 30, 2021.

Guanajuato Silver Company Ltd. (GSVRF) has announced an early payment of a US$2.5 million promissory note to Endeavour Silver, related to the acquisition of the El Cubo mine. This payment results in a US$25,000 reduction in principal and a VAT settlement via common shares amounting to US$396,000. Additionally, GSilver signed a Collective Bargaining Agreement with the El Cubo Union, ensuring compliance with Mexican labor laws and achieving cost savings compared to the previous CBA. A one-time payment of 10 million Mexican pesos (approximately US$490k) will also be made to the Union.

Guanajuato Silver Company Ltd. (GSVRF) has successfully delivered its first shipment of precious metals concentrate from its El Cubo mill, totaling approximately 75 tonnes valued at US$480,000. The concentrate contained roughly 200 ounces per tonne of silver and 2 ounces per tonne of gold. The company anticipates ramping up production to an expected 22,500 tonnes per month by January 2022. Financially, GSilver has secured US$1.5 million from Ocean Partners as part of a financing facility, bolstering its liquidity to over US$5 million.

Guanajuato Silver Company Ltd. has commenced processing silver and gold material at its El Cubo mine and mill, located near Guanajuato, Mexico. The first concentrate sales are expected by the end of October 2021. The company has completed $3.5 million in upgrades at the processing plant, which is capable of handling 1,500 tonnes per day. Initial production is set at approximately 750 tonnes per day, with potential for expansion. GSilver has also stockpiled about 20,000 tonnes of material from El Cubo for processing, targeting higher-grade areas in the future.

Guanajuato Silver Company Ltd. (GSVRF) announced strong shareholder support at its 2021 Annual General Meeting held on September 23, with 82,639,386 votes cast, equating to 41.065% of outstanding shares. All director nominees were re-elected, achieving over 99% support for each. The company retains auditor Lancaster & David with a 99.94% approval rate. GSilver is focused on reactivating silver and gold production at its El Cubo mine and the El Pingüico project near Guanajuato, Mexico.

Guanajuato Silver Company Ltd. (GSVRF) has finalized a significant silver and gold concentrate sales agreement with Ocean Partners Ltd. for an 18-month period starting October 2021. The deal includes a US$1.5 million prepayment financing facility with a 15-month repayment term. As mining operations progress at the El Cubo mine, pre-commissioning of milling equipment is nearing completion, paving the way for expected commercial production to commence in October 2021. This agreement marks a vital step in GSilver's commitment to reactivating its mining operations.