The Vancouver-based company said that once closed, First Majestic will hold about 8.5% of its outstanding shares, subject to a four-month holding period, and become a cornerstone shareholder.
The acquired portfolio includes one producing gold royalty on First Majestic’s La Encantada gold operation, four development silver royalties (Del Toro, La Guitarra, San Martin, La Parrilla), and three advanced exploration silver royalties (Plomosas, La Joya, La Luz) — all on assets in Mexico.
Critically, Metalla said in a news release the royalties cover 100% of all the concessions on the eight properties, with significant exploration upside covering 1,750 square kilometres of ground.
According to Metalla, adding eight royalties from First Majestic will expand its portfolio to 79 royalties and streams, increase cash flow, and enhance Metalla’s development pipeline. It also diversifies its counterparty base,
But BMO Capital Markets…
