Welcome to our dedicated page for Prime Mining news (Ticker: PRMNF), a resource for investors and traders seeking the latest updates and insights on Prime Mining stock.
Prime Mining Corp. (PRMNF) generated news primarily around the exploration and development of its Los Reyes gold-silver project in Sinaloa State, Mexico and, later, its acquisition by Torex Gold Resources Inc. This page provides a historical news archive for Prime Mining, covering the period when it operated as an independent gold ore mining and exploration company and was listed on the Toronto Stock Exchange, OTCQX and Frankfurt Stock Exchange.
Earlier news items focus on technical and corporate milestones at Los Reyes. These include updates on drilling and geological interpretation across the Guadalupe, Central and Z-T deposit areas, resource estimate announcements prepared under CIM and NI 43-101 standards, and the selection of Ausenco Engineering Canada ULC to lead a Preliminary Economic Assessment (PEA) on the project. Releases also describe Prime Mining’s exploration strategy, QA/QC protocols, and its work with technical consultants on metallurgical, geotechnical and mine planning studies.
Other recurring themes in the news flow include corporate developments such as warrant exercises, annual general meeting voting results, and the publication of sustainability and ESG reports. The company also reported on community engagement initiatives with local ejidos and the status of drilling operations, including a pause in drilling in response to security conditions in parts of Sinaloa.
Later news is dominated by the plan of arrangement with Torex Gold Resources Inc., securityholder approvals, court orders, regulatory clearances and, ultimately, the completion of the transaction under which Torex acquired all Prime shares. Following this transaction, Prime shares were expected to be delisted and Prime to apply to cease to be a reporting issuer. Investors and researchers can use this news archive to understand the historical evolution of Prime Mining, the technical narrative around Los Reyes and the steps that led to its acquisition.
Prime Mining (OTCQX: PRMNF / TSX: PRYM) completed a plan of arrangement with Torex Gold on October 22, 2025, under which Torex acquired all issued and outstanding Prime shares.
Shareholders are entitled to 0.060 of a common share of Torex for each Prime share held. Prime shares are expected to be delisted from the Toronto Stock Exchange, OTCQX and Frankfurt exchange, and Prime will apply to cease being a reporting issuer in applicable jurisdictions.
Registered shareholders must return a signed letter of transmittal and share certificates or DRS advice to Computershare; non-registered shareholders should contact their brokers. The management information circular dated August 25, 2025 is available on SEDAR+ for full procedures.
Prime Mining (OTCQX: PRMNF) received clearance from the Mexican antitrust authority COFECE for its plan of arrangement with Torex Gold, under which Torex will acquire all issued and outstanding Prime shares.
Under the Arrangement, Prime shareholders will receive 0.060 common share of Torex for each Prime share. Subject to satisfaction or waiver of conditions precedent, the Arrangement is anticipated to close during the week of October 20, 2025. Following closing, Prime shares are expected to be delisted from the Toronto Stock Exchange, OTCQX and Frankfurt, and an application will be made to cease Prime's status as a reporting issuer under Canadian securities laws. Further details are available in Prime's management information circular dated August 25, 2025.
Prime Mining (OTCQX: PRMNF) announced the Supreme Court of British Columbia granted the final order for its plan of arrangement with Torex Gold. Under the Arrangement, Torex will acquire all issued and outstanding Prime shares and Prime shareholders will receive 0.060 of a Torex common share for each Prime share. The transaction is subject to required approvals, including Mexican antitrust clearance, and is expected to close in Q4 2025 if conditions are satisfied or waived. Following closing, Prime shares are expected to be delisted from the Toronto Stock Exchange, OTCQX and Frankfurt, and Prime will apply to cease being a reporting issuer under Canadian securities laws. More details are in Prime's management information circular dated August 25, 2025, on SEDAR+ and Prime's website.
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. 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.
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