{"id":2515,"date":"2022-05-25T16:47:11","date_gmt":"2022-05-25T16:47:11","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=2515"},"modified":"2022-05-25T16:47:56","modified_gmt":"2022-05-25T16:47:56","slug":"first-majestic-sells-la-guitarra-for-us35-million","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2022\/05\/25\/first-majestic-sells-la-guitarra-for-us35-million\/","title":{"rendered":"First Majestic sells La Guitarra for US$35 Million"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2516\" src=\"https:\/\/northamericanmining.com\/wp-content\/uploads\/2022\/05\/La-Guitarra-Mill.jpg\" alt=\"\" width=\"1000\" height=\"747\" srcset=\"https:\/\/northamericanmining.com\/wp-content\/uploads\/2022\/05\/La-Guitarra-Mill.jpg 1000w, https:\/\/northamericanmining.com\/wp-content\/uploads\/2022\/05\/La-Guitarra-Mill-768x574.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/p>\n\n\n<p class=\"wp-block-paragraph\">First Majestic Silver Corp. has entered into a definitive agreement to sell its 100% owned, past-producing La Guitarra Silver Mine in Mexico to Sierra Madre Gold &amp; Silver for US$35 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As part of the deal, Sierra Madre must raise a minimum of CDN$10 million in a private placement concurrent with or prior to closing of the transaction.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Upon closing, First Majestic will be granted a 2% net smelter return royalty (NSR) on all mineral production from the La Guitarra concessions, with the NSR subject to a 1% buy-back option for US$2 million.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">First Majestic will also hold approximately 47% of the outstanding shares in Sierra Madre, which will be subject to a statutory holding period of four months and one day following the date of closing and contractual resale restrictions.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Closing of the deal is expected to occur in the second half of 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">La Guitarra is a past producing silver and gold operation that was placed under care and maintenance by First Majestic in August 2018. It consists of two underground operation centers and a flotation mill with a capacity of 500 t\/d.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Source: <\/em><a href=\"https:\/\/www.firstmajestic.com\/\"><em>First Majestic Silver Corp.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>First Majestic Silver Corp. has entered into a definitive agreement to sell its 100% owned, past-producing La Guitarra Silver Mine in Mexico to Sierra Madre Gold &amp; Silver for US$35 million. As part of the deal, Sierra Madre must raise a minimum of CDN$10 million in a private placement concurrent with or prior to closing of the transaction. Upon closing,&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2516,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[495],"tags":[1141],"coauthors":[],"class_list":["post-2515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-first-majestic-silver-corp"],"aioseo_notices":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/northamericanmining.com\/wp-content\/uploads\/2022\/05\/La-Guitarra-Mill.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts\/2515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/comments?post=2515"}],"version-history":[{"count":2,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts\/2515\/revisions"}],"predecessor-version":[{"id":2518,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/posts\/2515\/revisions\/2518"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/media\/2516"}],"wp:attachment":[{"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/media?parent=2515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/categories?post=2515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/tags?post=2515"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/northamericanmining.com\/index.php\/wp-json\/wp\/v2\/coauthors?post=2515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}