Welcome to our dedicated page for Sierra Madre Gol news (Ticker: SMDRF), a resource for investors and traders seeking the latest updates and insights on Sierra Madre Gol stock.
Sierra Madre Gold and Silver Ltd. (OTCQX: SMDRF; TSXV: SM) generates frequent news as it advances silver-gold mining and exploration projects in Mexico. Company releases focus on operational updates from the La Guitarra silver-gold mine complex in the Temascaltepec mining district, as well as exploration and development activities at the Tepic Project in Nayarit. Investors following SMDRF news can track how mine performance, plant optimization and project financing evolve over time.
Recent announcements highlight quarterly financial and operating results from La Guitarra, including silver-equivalent ounces sold, revenues, gross profit and cost metrics. Operational news also covers mine development and production at the Guitarra, Coloso and Nazareno underground mines, plant performance, recovery rates and the impact of factors such as seasonal power outages on mill throughput.
Sierra Madre’s news flow also details a two-stage expansion plan at La Guitarra, with planned increases in processing capacity beyond the current 500 tonnes-per-day level. Releases describe planned additions of crushing and milling equipment, construction of a paste fill and thickener plant, and development of a future dry stack tailings storage facility. Exploration-focused news includes the launch of a multi-part program at the East District of the Guitarra project, covering historic workings in the Temascaltepec area and planned drilling campaigns.
Capital markets and corporate governance updates form another key part of SMDRF news. The company reports on brokered private placements of units and subscription receipts, use of proceeds for mine expansion and exploration, loan extensions with First Majestic Silver Corp., stock option grants, and annual general meeting results. For investors and analysts, this news page provides a centralized view of Sierra Madre’s operational progress, financing activities and project development milestones.
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Sierra Madre Gold and Silver Ltd. updates on its acquisition of the La Guitarra Silver-Gold Mine, following shareholder approval for the exchange of 69,063,076 common shares valued at US$35 million. The acquisition aims to enhance production and cash flow from the operational mine in Mexico. The company seeks Mexican antitrust approval, expected in Q1 2023, to finalize the transaction. This strategic move positions Sierra Madre to leverage La Guitarra's historical resources of approximately 7.45 million oz silver-equivalent for future growth.
Sierra Madre Gold and Silver Ltd. (SMDRF) announced that at their special meeting on December 9, 2022, shareholders voted overwhelmingly (99.99%) in favor of acquiring all shares of La Guitarra Compañia Minera S.A. de C.V. from Corporacion First Majestic for 69,063,076 common shares, valued at approximately CAD 44.89 million (USD 35 million). This transaction is pending final acceptance from the TSX Venture Exchange. Additionally, the issuance of shares will create a new Control Person with First Majestic, approved by the same majority.
Sierra Madre Gold and Silver Ltd. has updated its acquisition of the La Guitarra Silver-Gold Property following an amended agreement with First Majestic Silver Corp. The amended agreement, dated October 28, 2022, modifies terms regarding a 2% net smelter returns royalty that will now be granted prior to the closing of the transaction, rather than concurrently. Necessary governmental approvals must also be secured before closing. The company aims to finalize the acquisition by the end of 2022, maintaining other material terms unchanged from the initial announcement.
Sierra Madre Gold and Silver Ltd. (OTCQB:SMDRF) has successfully closed the first tranche of a brokered private placement financing, raising $6,178,020.55 through the issuance of 9,504,647 Subscription Receipts at $0.65 each. This offering contributes to an overall goal of raising up to $10,000,250 to support the acquisition of La Guitarra silver-gold property. Escrowed proceeds will be released upon satisfying specific conditions by January 6, 2023. Funds will be utilized for property development and working capital.
Sierra Madre Gold and Silver Ltd. (TSXV:SM, OTC PINK:SMDRF) announced the appointment of Kenneth Scott as the new Chief Financial Officer (CFO), effective immediately. Mr. Scott brings over 33 years of public company auditing experience, having worked with notable mining companies during his tenure at PricewaterhouseCoopers. The transition comes as the company prepares for operations at its La Guitarra project. The previous CFO, Kerry Spong, will continue to serve as Controller and Corporate Secretary.
Sierra Madre Gold and Silver Ltd. (TSXV:SM) (OTCQB:SMDRF) announced the successful outcomes of its annual general shareholders meeting held on June 30, 2022. All board members were re-elected, and the current auditor, Davidson & Company LLP, was re-appointed. Shareholders also approved a new 10% rolling stock option plan in line with TSX Venture Exchange rules.
The company is currently focused on the Tepic and La Tigra Properties in Mexico, aimed at identifying commercially viable metal deposits.
Sierra Madre Gold and Silver Ltd. (TSXV:SM, OTCQB:SMDRF) has entered into a definitive agreement with First Majestic Silver Corp. to acquire a 100% interest in the La Guitarra Silver-Gold Property in Mexico for US$35 million, issuing approximately 69 million shares at $0.65 each. La Guitarra has a history of silver-gold production and contains significant mineral resources, including 7.45 million ounces of silver-equivalent. The acquisition positions Sierra Madre for mid-tier precious metals production and strengthens its portfolio with three projects in Mexico.
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