{"id":1128658,"date":"2019-07-24T14:24:41","date_gmt":"2019-07-24T19:24:41","guid":{"rendered":"https:\/\/www.mining.com\/?p=997458"},"modified":"2019-07-24T14:24:41","modified_gmt":"2019-07-24T19:24:41","slug":"silvercrest-metals-secures-c22m-financing-stock-at-all-time-high","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1128658","title":{"rendered":"SilverCrest Metals secures C$22m financing; stock at all-time high"},"content":{"rendered":"<p>SilverCrest Metals Inc. (TSXV: SIL) <a rel=\"noreferrer noopener\" aria-label=\"today announced (opens in a new tab)\" href=\"http:\/\/www.silvercrestmetals.com\/news\/2019\/index.php?content_id=392\" >today announced<\/a> that the company has entered a bought-deal financing agreement, issuing 3,762,000 common shares at C$5.85 each for aggregate gross proceeds of C$22 million.<\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>In addition, shareholder SSR Mining Inc. (TSX, NASDAQ: SSRM) has indicated that it will exercise its right to maintain its pro rata ownership interest of up to 9.9% of SilverCrest&#8217;s outstanding shares. Accordingly, SSR will purchase a minimum of 718,000&nbsp;SilverCrest shares (at the same price) for gross proceeds of C$4.2 million in a separate private placement deal.<\/p>\n<p>Shares of SilverCrest Metals rose over 8% on Wednesday, hitting an all-time high of C$6.80. The company has a market capitalization of C$579.5 million.<\/p>\n<p>Net proceeds of the financing will be used for continued exploration and advancement of the Las Chispas project to feasibility level, as well as for working capital.<\/p>\n<p>Located approximately 180 km northeast of the town of Hermosillo in Sonora, Mexico, SilverCrest&#8217;s Las Chispas property consists of&nbsp;28&nbsp;concessions for a total area of 1,400.96&nbsp;hectares. <\/p>\n<p>Based on a <a rel=\"noreferrer noopener\" aria-label=\"resource estimate (opens in a new tab)\" href=\"https:\/\/www.mining.com\/silvercrest-upgrades-resource-las-chipas-ahead-pea\/\" >resource estimate<\/a> released in March, Las Chispas contains one million indicated tonnes grading 6.98 g\/t Au and 710.6 g\/t Ag, or 1,234 g\/t AgEq, containing 39.8 million ounces of AgEq. The company has 14 active drill rigs on the site that continue to test, expand and upgrade the high-grade resource delineated to date.<\/p>\n<p>Last week, SilverCrest was <a rel=\"noreferrer noopener\" aria-label=\"granted approval (opens in a new tab)\" href=\"https:\/\/www.mining.com\/silvercrest-gets-operating-permit-for-las-chispas\/\" >granted approval<\/a> by Mexico\u2019s Secretariat of Environment and Natural Resources for its operating permit to develop the Las Chispas project, including the construction of a 3,000 t\/d underground mine and a conventional processing facility. The plan is to begin construction activities in H2 2020, the company said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The net proceeds of the financing will be used for continued exploration and advancement of the Las Chispas project.<\/p>\n","protected":false},"author":88,"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":"default","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":"","ast-disable-related-posts":"","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-opacity":"","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-opacity":"","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-opacity":"","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-opacity":"","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-opacity":"","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-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[369,4],"tags":[],"class_list":["post-1128658","post","type-post","status-publish","format-standard","hentry","category-miningcom","category-news"],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1128658","targetHints":{"allow":["GET"]}}],"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\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1128658"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1128658\/revisions"}],"predecessor-version":[{"id":1128661,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1128658\/revisions\/1128661"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1128658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1128658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1128658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}