Vizsla completes royalty acquisition on Panuco silver-gold project in Mexico
The acquisition increases the company's NSR on the Silverstone Concessions to 3.5% from 0.5%, expanding its stake in the flagship Panuco-Copala silver-gold project within the Silverstone Concessions.
The company has exercised its right to repurchase 50% of the 3% royalty for $1.95m and acquired the remaining 50% for $38.05m, a total cash consideration of $40m.
Owned and operated by Vizsla Silver, the Panuco project is recognised as the 'largest undeveloped high-grade primary silver resource' globally.
It is progressing towards production following a 2024 preliminary economic assessment (PEA), with initial silver output anticipated in the second half of 2027.
The funds have been transferred to Vizsla Royalties' subsidiary in Mexico, with the formal completion of the transaction pending the release of funds to the vendor.
Final approval for the transaction from the TSX Venture Exchange is still pending.
Additionally, Vizsla Royalties has announced the closure of a bought deal offering, raising C$63.02m through the issuance of 31.51 million common shares at C$2 each. A portion of the proceeds were used to complete the transaction.
The offering was led by CIBC Capital Markets and included other underwriters.
Rising global demand for silver, coupled with a scarcity of new primary silver assets expected to enter the market up to 2040, underscores the significance of the Panuco project within the industry, the company said.
In January 2025, Vizsla entered into a purchase agreement with Siyata Mobile to acquire a 49% joint venture interest in Siyata Mobile in five claims, part of the Woodjam Project in south-central British Columbia, Canada.
"Vizsla completes royalty acquisition on Panuco silver-gold project in Mexico" was originally created and published by Mining Technology, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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