US EditionTorex Gold to Acquire Prime Mining - Torex Gold Resources (OTC:TORXF), Prime Mining (OTC:PRMNF)
CANADA, JUL 28 – Torex will acquire Prime Mining’s advanced Los Reyes gold-silver project via a share deal valuing Prime at $449 million, with Prime shareholders to own about 10.7% of Torex post-transaction.
- Torex Gold Resources announced a definitive all-share deal in 2025 to acquire all Prime Mining shares including its Los Reyes gold-silver project in Mexico.
- The agreement follows Prime's updated 2024 technical report indicating expanded resource potential and a paused 2025 drilling program due to local security issues.
- Prime hosts approximately 1.5 million ounces of indicated gold and 54 million ounces of silver, with plans for 40,000 metres of drilling to explore extensions beyond current deposits.
- The exchange ratio values Prime at $449 million, offering shareholders a 32.4% premium and resulting in their ownership of about 10.7% of Torex post-transaction.
- Closing expected in H2 2025 under regulatory approvals will expand Torex's portfolio and support its strategy to grow a diversified precious metals producer with enhanced Mexican assets.
13 Articles
13 Articles
The Hamilton Spectator
Torex Gold to Acquire Prime Mining
(All amounts expressed in Canadian dollars unless otherwise stated)
Torex Gold Resources Inc. (TSX:TXG) - Acquiring Prime Mining to Fuel the Next Stage of Growth - Research Portal
Torex (TXG) has entered into a definitive agreement to acquire Prime Mining Corp. (TSX:PRYM, Not Rated) in an all-stock deal valued at C$449M (US$327M), representing an 18% premium to PRYM’s previous closing price and a 32.4% premium to 30-day VWAP. TXG would bag PRYM’s flagship Los Reyes gold and silver project in Mexico, which hosts M&I+I resource containing ~2M oz Au and ~76M oz Ag, with significant exploration upside potential. We view this …
Torex Gold to Acquire Prime Mining for US$327M
Torex Gold Resources (TSX:TXG; OTCQX:TORXF) has announced a definitive agreement with Prime Mining Corp. (TSX:PRYM; OTCQX:PRMNF; Frankfurt:O4V3) whereby Torex will be acquiring all of the issued and outstanding common shares of Prime Mining, providing Torex with a 100% interest in Prime Mining’s Los Reyes gold-silver project. The Los Reyes project is a multi-million ounce gold-silver project in Mexico, a jurisdiction that Torex has successfully …
Torex Gold Expands with US$449M Acquisition of Prime Mining
Torex Gold (TSX:TXG,OTCQX:TORXF) is acquiring Prime Mining (TSX:PRYM,OTCQX:PRYM) in an all-share deal worth US$449 million, gaining full control of the Los Reyes gold-silver project in Mexico as it builds out an Americas-focused mining portfolio.Under the terms of the deal, Torex will gain 100 percent ownership of Prime’s Los Reyes project in Sinaloa, an advanced-stage gold-silver asset with indicated resources of 1.5 million ounces of gold and …
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