Prime Mining Corp Stock Price, News & Analysis

Prime Mining (OTCQX:PRMNF) announced that its securityholders have overwhelmingly approved the plan of arrangement for the company's acquisition by Torex Gold Resources. The special resolution received 99.991% approval across all voting categories, including shareholders and holders of various securities.

The transaction, expected to close in Q4 2025, remains subject to regulatory approvals, including TSX approval and Mexican antitrust clearance. The arrangement will result in Torex acquiring all issued and outstanding shares of Prime Mining.

Prime Mining (OTCQX:PRMNF) announced the filing and mailing of meeting materials for a special meeting on September 29, 2025, where securityholders will vote on a proposed arrangement with Torex Gold Resources. Under the agreement, Torex will acquire all outstanding Prime shares, with shareholders receiving 0.060 Torex shares for each Prime share, representing a 32.4% premium to Prime's 30-day VWAP as of July 25, 2025.

The arrangement requires approval from 66⅔% of shareholders and securityholders, voting separately, plus majority approval from minority shareholders. Directors, officers, and a significant shareholder, controlling approximately 23% of Prime shares, have agreed to vote in favor. The transaction is expected to close in H2 2025, subject to regulatory and court approvals.

Prime Mining (OTCQX:PRMNF) has reported its Q2 2025 financial and operating results, highlighting a transformative quarter marked by significant developments. The company closed Q2 with a strong cash position of $32.7 million, bolstered by a 97% warrant exercise completion.

A pivotal announcement came with Torex Gold's proposed acquisition of Prime Mining in a share-based transaction, where Prime shareholders will receive 0.060 Torex shares for each Prime share, representing approximately 10.7% ownership in Torex. The company had previously selected Ausenco to lead their Preliminary Economic Assessment (PEA) for the Los Reyes Gold-Silver Project, though this work is now paused pending the acquisition outcome.

Financial results show a reduced loss of $6.17 million for H1 2025, compared to $11.94 million in H1 2024. However, drilling operations at Los Reyes remain suspended since January 2025 due to security concerns in Sinaloa, Mexico.

Torex Gold Resources (TSX:TXG) has announced a definitive agreement to acquire Prime Mining (OTCQX:PRMNF) in an all-share transaction valued at approximately $449 million. Under the agreement, Prime Mining shareholders will receive 0.060 Torex shares for each Prime Mining share, representing a 32.4% premium to the 30-day VWAP.

The acquisition gives Torex full ownership of the Los Reyes gold-silver project in Mexico, which hosts 1.5 million ounces of gold and 54.0 million ounces of silver in the Indicated category. The transaction will increase Torex's Measured and Indicated Resources by 32% to 6.2 Moz of gold. Upon completion, existing Prime Mining shareholders will own approximately 10.7% of Torex.

The deal is expected to close in H2 2025, subject to approvals from Prime Mining shareholders, regulators, and Mexican antitrust authorities. Key shareholders holding 23% of Prime Mining shares have agreed to vote in favor of the transaction.

Prime Mining Corp. held its Annual General and Special Meeting on June 19, 2025, with 68.13% shareholder participation. All nine nominated directors were successfully elected, with approval rates ranging from 77.24% to 99.57%. The company maintains a strong cash position of $32.9 million and is advancing its Los Reyes gold-silver project in Mexico. A Preliminary Economic Assessment (PEA) is targeted for Q3 2025, promising a high-return, low-capital project. Notably, drilling operations were paused on January 28, 2025, due to security concerns in Sinaloa, though the company maintains its 40,000m drilling program target upon resumption. Key 2025 exploration plans include extending high-grade Z-T Area shoots, expanding Guadalupe East mineralization, increasing Central Area resources, and developing emerging targets at Las Primas, Fresnillo, and Mariposa.

Prime Mining Corp. announces successful completion of its warrant exercise program, with 97% of $1.10 warrants due June 12, 2025 being exercised. The company's cash balance has increased to approximately $32.9 million, providing funding through 2026 for its Los Reyes gold-silver project in Mexico. While drilling was paused in January 2025 due to security concerns in Sinaloa, the company maintains six drill rigs on standby and plans a 40,000m drilling program upon security improvement. Prime's 2025 outlook includes completing a Preliminary Economic Assessment in Q3 2025, expanding high-grade mineralization zones, and continuing community engagement initiatives. The company's exploration strategy focuses on extending Z-T Area shoots, expanding Guadalupe East mineralization, increasing Central Area resources, and exploring emerging targets at Las Primas, Fresnillo, and Mariposa.

Prime Mining Corp. has selected Ausenco Engineering Canada ULC to lead the Preliminary Economic Assessment (PEA) study for its Los Reyes gold-silver project in Mexico. The PEA, targeted for completion in Q3 2025, will be based on drilling through 2024. The company envisions a 5,000 tonne-per-day mill operation combining open pit and underground mining.

Since 2019, Prime has invested over $64 million in exploration and completed 221,000 metres of drilling. Currently, drilling is paused due to security concerns in Sinaloa, but six drill rigs remain on standby to resume a planned 40,000m program. The company's 2025 exploration will focus on extending high-grade areas at Z-T Area, Guadalupe East, and the Central Area, while continuing community engagement initiatives.

Prime Mining Corp. (PRMNF) has selected Ausenco Engineering Canada ULC to lead the Preliminary Economic Assessment (PEA) study for its Los Reyes gold-silver project in Mexico. The PEA, targeted for completion in Q3 2025, will be based on drilling through 2024 and incorporate extensive technical work completed to date.

The company envisions a 5,000 tonne-per-day mill operation combining open pit and underground mining. Since acquiring Los Reyes in 2019, Prime has invested over $64 million in exploration and completed more than 221,000 metres of drilling. The company plans to continue exploration with six drill rigs on site, focusing on extending high-grade areas at Z-T Area, Guadalupe East, and the Central Area.

Prime Mining Corp reported Q1 2025 financial results for its Los Reyes Gold-Silver Project in Mexico. The company ended Q1 with $18.2 million in cash, down slightly from $19.1 million in December 2024. Net loss improved to $3.6 million compared to $6.5 million in Q1 2024. Key drilling results included high-grade intersections at Tahonitas with up to 5.67 gpt AuEq over 4.2m and at Noche Buena with 3.48 gpt AuEq over 7.6m. The company's planned 40,000m drill program was temporarily paused on January 28, 2025, due to security concerns in Sinaloa. Prime Mining continues to advance technical studies and community engagement while preparing for a Preliminary Economic Assessment.