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• Capitan Silver announced it has executed a definitive agreement to acquire the strategic land package at its Cruz de Plata project, part of the LOI that was announced on June 9th.
• The US$4M acquisition expands its land package by ~85% and extends the silver-gold trend by 1.2km to 3.7km.
• The transaction was supported by $6.6M in warrant proceeds, leaving CAPT fully funded for 2025 and well into 2026.
• We recently published an interview with CEO Alberto Orozco, view here.
This morning, Capitan Silver (CAPT:TSXV) announced that it has signed a definitive agreement to acquire a strategic package of seven mineral concessions adjacent to and surrounding its Cruz de Plata silver project in Durango, Mexico. This agreement follows the Letter of Intent (LOI) previously announced on June 9th, which we discussed in our previous note here. The transaction marks a major milestone for Capitan, consolidating full control of the district and allowing the Company and its shareholders to benefit entirely from future exploration success. Backed by the recent $6.6M warrant exercise, Capitan enters this next phase of development fully funded and with no royalties or equity dilution tied to the acquisition. We are maintaining our BUY rating and target price of $1.30/share on CAPT.
Capitan is acquiring the concessions from Minera Fresnillo S.A. de C.V. for a total of US$4M, with US$2M paid at closing and the remaining US$2M due within two years. The agreement contains no royalties or equity components.
Key Highlights from the transaction:
• Acquisition of a 100% interest in mineral concessions totally 2,171.4ha, directly adjacent to and surrounding the Cruz de Plata Project
• Increases Capitan’s total land position by ~85%
• Expands the surface expression of the silver-gold trend from 2.5km to 3.7km, adding 1.2km to the east (Figure 1)
• Consolidates the land package, unlocking additional ground for infrastructure development and optimizing overall project design
CAPT: LOI Turns Definitive & $6.6M from Warrant Exercises
What you need to know:• Capitan Silver announced it has executed a definitive agreement to acquire the strategic land package at its Cruz de Plata project, part of the LOI that was announced on June 9th.
• The US$4M acquisition expands its land package by ~85% and extends the silver-gold trend by 1.2km to 3.7km.
• The transaction was supported by $6.6M in warrant proceeds, leaving CAPT fully funded for 2025 and well into 2026.
• We recently published an interview with CEO Alberto Orozco, view here.
This morning, Capitan Silver (CAPT:TSXV) announced that it has signed a definitive agreement to acquire a strategic package of seven mineral concessions adjacent to and surrounding its Cruz de Plata silver project in Durango, Mexico. This agreement follows the Letter of Intent (LOI) previously announced on June 9th, which we discussed in our previous note here. The transaction marks a major milestone for Capitan, consolidating full control of the district and allowing the Company and its shareholders to benefit entirely from future exploration success. Backed by the recent $6.6M warrant exercise, Capitan enters this next phase of development fully funded and with no royalties or equity dilution tied to the acquisition. We are maintaining our BUY rating and target price of $1.30/share on CAPT.
Capitan is acquiring the concessions from Minera Fresnillo S.A. de C.V. for a total of US$4M, with US$2M paid at closing and the remaining US$2M due within two years. The agreement contains no royalties or equity components.
Key Highlights from the transaction:
• Acquisition of a 100% interest in mineral concessions totally 2,171.4ha, directly adjacent to and surrounding the Cruz de Plata Project
• Increases Capitan’s total land position by ~85%
• Expands the surface expression of the silver-gold trend from 2.5km to 3.7km, adding 1.2km to the east (Figure 1)
• Consolidates the land package, unlocking additional ground for infrastructure development and optimizing overall project design
Underlying
CAPITAN SILVER CORP
Provider
Atrium Research Corporation
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Ben Pirie
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