Monday, September 15, 2025

Eric Sprott Invests $78 Million In First Majestic Silver

Eric Sprott is evidently a fan of First Majestic Silver (TSX: FR) (NYSE: AG), with it being announced this evening that he will be investing C$78.0 million in the company via a private placement conducted solely for him. The investment will be conducted via 2176423 Ontario Ltd, a corporation in which he owns.

The private placement will see Sprott purchase 5,000,000 common shares of the silver producer, at a price of C$15.60 per share, with no warrant being offered in the financing. Further, the price appears to be at a slight premium to today’s close of $15.41, as well as yesterdays close of $15.56.

Following the close of the transaction, Sprott will own a 2.3% stake in First Majestic, whom currently boasts a valuation of roughly $3.3 billion.

Net proceeds from the financing will be used to develop and or improve the firms existing mines as well as for general working capital. The financing is expected to close by September 17, 2020.

First Majestic Silver last traded at $15.41 on the TSX.


Information for this briefing was found via Sedar and First Majestic Silver. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

First Majestic Encounters 711 g/t Silver Equivalent Over 8.0 Metres In Ongoing Exploration At Los Gatos

First Majestic Silver (TSX: AG) (NYSE: AG) is expecting meaningful mineral resource growth at their...
Thursday, September 4, 2025, 04:53:00 PM

Silver Strike: 10,000 g/t & $10M in the Bank! —with Rory Quinn of Yukon Metals Corp.

In this interview at the Precious Metals Summit 2024, Rory Quinn, President & CEO of...

Thursday, September 12, 2024, 10:00:00 AM

Silver Junior Secures Mexican Permit, Production Set to Triple | Nathan Harte – Avino Silver & Gold

In this interview, Avino Silver & Gold Mines Ltd. (TSX: ASM) CFO Nathan Harte discusses...

Wednesday, March 5, 2025, 02:46:00 PM

Canada Silver Cobalt Works Has Major Silver Discovery in Northern Ontario

Canada Silver Cobalt Works Inc. (TSXV: CCW) has announced numerous positive assay results which confirm...

Sunday, February 7, 2021, 09:00:00 AM

Silver $300, Copper $40: 2030 Outlook

At The Rule Symposium in Boca Raton, Florida, Craig Parry, Co-Founder of Inventa Capital and...

Thursday, July 11, 2024, 08:55:00 AM