{"id":1109260,"date":"2019-04-04T21:41:17","date_gmt":"2019-04-04T21:41:17","guid":{"rendered":"http:\/\/www.mining.com\/?p=979957"},"modified":"2019-04-04T21:41:17","modified_gmt":"2019-04-04T21:41:17","slug":"americas-silvers-stock-surges-after-42m-boost","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1109260","title":{"rendered":"Americas Silver’s stock surges after $42m boost"},"content":{"rendered":"

Americas Silver Corp.’s (TSE: USA) stock was up over 23% Thursday, after announcing<\/a> that Sandstorm Gold Royalties is making a $42.5 million investment in the company to fund the restart of Relief Canyon gold mine, 160 km northeast of Reno.\u00a0The investment includes a $25 million gold stream and royalty on the Relief Canyon mine when it reopens, a $10 million convertible debenture, and a $7.5 million equity subscription.<\/p>\n

Sandstorm is to receive 32,022 oz. of gold over 5.5 years beginning in April 2020. Beginning five years after the first gold delivery, the company will receive 4.0% of the gold and silver output as long as the mine operates. Sandstorm will also have a 1.4% to 2.8% net smelter returns royalty on any future production from the area surrounding the mine plus a 4-km \u201carea of interest.\u201d<\/p>\n

Americas Silver also\u00a0announced the closing of the acquisition of Pershing Gold Corporation, originally announced in September, 2018.<\/p>\n

The Relief Canyon mine is a former heap leach gold producer. As of May 2018, proven and probable reserves totaled 27.5 million tonnes of 0.72 g\/t gold material for 635,000 contained oz. The feasibility study released at the same time outlined average annual production of 91,000 oz. of gold over a 5.6 year mine life at an average all-in sustaining cost of $801 per ounce of gold. There is significant exploration potential at Relief Canyon, as only approximately 20% of the 11,700 hectare land package has been explored to date.<\/p>\n

Americas Silver has received permits to start construction and resume mining with the first gold pour targeted by the end of 2019.<\/p>\n

By market close on Thursday, Americas Silver’s shares were trading on the TSE at C$2.55, up 23.19% on the day. The company has a $115.75 million market capitalization.<\/p>\n

(A version of this article first appeared in the Canadian Mining Journal<\/a>)<\/em><\/p>\n

The post Americas Silver’s stock surges after $42m boost<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The investment includes a $25m gold stream and royalty on the Relief Canyon mine when it reopens, a $10m convertible debenture, and a $7.5m equity subscription.<\/p>\n

The post Americas Silver’s stock surges after $42m boost<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[2260,404,369,2261,428],"tags":[48,82],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1109260"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1109260"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1109260\/revisions"}],"predecessor-version":[{"id":1109261,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1109260\/revisions\/1109261"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1109260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1109260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1109260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}