Silver Viper Completes $15M Coneto Project Acquisition; Fresnillo Takes 13% Stake
VIPRF has more than doubled off its 52-week low of $0.138.
Summary
Silver Viper Minerals Corp. has completed its previously announced acquisition of the Coneto Silver-Gold Project in Mexico for US$15 million, paid through the issuance of 25.5 million common shares. This significant transaction materially expands Silver Viper's asset portfolio with a promising, underexplored project in a historic mining district. Notably, Fresnillo plc, a major mining company, became a 13.19% shareholder and will operate the project, providing strategic backing and expertise. The deal also includes the appointment of Ruben Alvidrez to Silver Viper's Board. This acquisition fundamentally alters Silver Viper's growth trajectory and asset base, making future exploration and drilling results at Coneto key catalysts to watch.
At the time of this announcement, VIPRF was trading at $0.60 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $56M. The 52-week trading range was $0.14 to $1.89. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.