Proactiveinvestors USA & Canada Maverix Metals Inc https://ca.proactiveinvestors.com Proactiveinvestors USA & Canada Maverix Metals Inc RSS feed en Mon, 21 Jan 2019 13:43:57 -0500 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - Maverix Metals acquires silver stream from Northern Vertex Mining Corp. ]]> https://ca.proactiveinvestors.com/companies/stocktube/11763/maverix-metals-acquires-silver-stream-from-northern-vertex-mining-corp-11763.html Wed, 09 Jan 2019 16:25:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/11763/maverix-metals-acquires-silver-stream-from-northern-vertex-mining-corp-11763.html <![CDATA[News - Maverix Metals closes previously announced Moss mine silver stream acquisition ]]> https://ca.proactiveinvestors.com/companies/news/211167/maverix-metals-closes-previously-announced-moss-mine-silver-stream-acquisition-211167.html Maverix Metals Inc (CVE:MMX) told investors Thursday it had closed its previously announced acquisition of a silver stream on the operating Moss mine in northwest Arizona, USA.

The stream has been bought from a wholly owned subsidiary of Northern Vertex Mining Corp.

READ: M averix Metals strikes Silver Stream agreement on Northern Vertex's Moss Mine

As reported on December 6, in exchange for an up-front cash payment of US$20 million, Maverix can now buy 100% of the silver produced from the Moss mine, which is operated by Golden Vertex Corp, a subsidiary of Northern Vertex.

Once Maverix has purchased 3.5 million ounces of silver, the company will have the right to purchase 50% of the life-of-mine silver produced from the Moss mine.

With Moss seeing commercial production in September this year, the silver stream will generate immediate revenue for Maverix.

“Maverix is excited to partner with Northern Vertex by offering a financing solution that will allow them to significantly de-lever their balance sheet and keep the operating team at Moss fully focused on unlocking the mine’s long-term potential,” said Dan O’Flaherty, CEO of Maverix.

“The addition of this cash flowing asset in a stable jurisdiction further strengthens our portfolio and meaningfully increases our attributable precious metals production per share,” O’Flaherty added.

Maverix aims to give shareholders significant low-risk leverage to the gold price and to increase underlying per-share value.

Contact Giles Gwinnett  at giles@proactiveinvestors.com

Follow him on Twitter @Gile74

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Thu, 13 Dec 2018 09:32:00 -0500 https://ca.proactiveinvestors.com/companies/news/211167/maverix-metals-closes-previously-announced-moss-mine-silver-stream-acquisition-211167.html
<![CDATA[News - Maverix Metals strikes Silver Stream agreement on Northern Vertex's Moss Mine ]]> https://ca.proactiveinvestors.com/companies/news/210710/maverix-metals-strikes-silver-stream-agreement-on-northern-vertex-s-moss-mine-210710.html Maverix Metals Inc (TSX-V:MMX) has reached an agreement that broadens the scope of its previously-announced acquisition of a silver stream in northwest Arizona from a subsidiary of Northern Vertex Mining Corp.

In exchange for an up-front cash payment of US$20 million, the new agreement for the silver stream now entitles Maverix to purchase 100% of the silver produced from the Moss mine, which is operated by Golden Vertex Corp, a subsidiary of Northern Vertex. Once Maverix has purchased 3.5 million ounces of silver, the company will have the right to purchase 50% of the life of mine silver produced from the Moss mine.

READ: Maverix Metals names Newmont Mining executive to its board of directors

“Maverix is excited to partner with Northern Vertex by offering a financing solution that will allow them to significantly de-lever their balance sheet and keep the operating team at Moss fully focused on unlocking the mine’s long-term potential,” said Dan O’Flaherty, CEO of Maverix.

“The addition of this cash flowing asset in a stable jurisdiction further strengthens our portfolio and meaningfully increases our attributable precious metals production per share,” O’Flaherty added.

Maverix entered into this silver purchase agreement with Northern Vertex and its operating subsidiary Golden Vertex Corp.

Silver stream at Moss mine to generate immediate revenue

With the Moss mine seeing commercial production in September of 2018, the Silver Stream will generate immediate revenue for Maverix.

Located near Bullhead City in northwest Arizona, the Moss mine is on track to become a low-cost open-pit mining and heap leach operation. Northwest Arizona is a stable mining jurisdiction with a long history of mining operations.

The Silver Stream agreement applies to all current and future phases of operations at the Moss mine.

Maverix will make ongoing cash payments to Golden Vertex equal to 20% of the average price of silver for the five consecutive trading days prior to delivery.

The transaction is set to close this month, and Maverix intends to fund the up-front cash payment via cash on hand and its revolving credit facility.

The Moss mine is 100% owned by Northern Vertex and is a 5,000 tonnes per day, open pit, heap leach, gold-silver operation.

Maverix Metals rose 1.7% to hit C$2.42 in Thursday’s morning trading session.

 

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Thu, 06 Dec 2018 10:34:00 -0500 https://ca.proactiveinvestors.com/companies/news/210710/maverix-metals-strikes-silver-stream-agreement-on-northern-vertex-s-moss-mine-210710.html
<![CDATA[News - Maverix Metals names Newmont Mining executive to its board of directors ]]> https://ca.proactiveinvestors.com/companies/news/209969/maverix-metals-names-newmont-mining-executive-to-its-board-of-directors-209969.html Gold royalty company Maverix Metals Inc (CVE:MMX) (OTCMKTS:MACIF) said Monday that it has named Blake Rhodes, the vice president of corporate development at gold miner Newmont Mining Corp (NYSE:NEM), to its board of directors.

Rhodes has served in his position at Greenwood Village, Colorado-based Newmont since January 2015, according to Maverix. Earlier he served as Newmont's senior vice president of Indonesia.

READ: Maverix Metals rises after posting record revenue and attributable gold output in 3Q

“Blake will be an excellent addition to our existing board, bringing with him an array of experience in the mining industry,” Geoff Burns, chairman of Vancouver-based Maverix, said in a press release.

Last week Maverix said revenue more than doubled to a record C$9.8 million in the third quarter from a year earlier. It reported a record 6,195 ounces of attributable gold equivalent sold.

Shares of Maverix climbed C$0.05 to C$2.44 in Monday’s Canadian trading and advanced US$0.10 to US$1.95 on the OTC market.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Mon, 26 Nov 2018 14:48:00 -0500 https://ca.proactiveinvestors.com/companies/news/209969/maverix-metals-names-newmont-mining-executive-to-its-board-of-directors-209969.html
<![CDATA[News - Maverix Metals rises after posting record revenue and attributable gold output in 3Q ]]> https://ca.proactiveinvestors.com/companies/news/209697/maverix-metals-rises-after-posting-record-revenue-and-attributable-gold-output-in-3q-209697.html Maverix Metals Inc (CVE:MMX, OTCMKTS:MACIF) rose Wednesday after reporting record production and revenue in the third quarter.

The Vancouver-based precious-metals royalty company said revenue more than doubled to C$9.8 million in the three months ended September 30 from a year earlier. It reported a record 6,195 ounces of attributable gold equivalent sold.

READ: RNC Minerals revenue rises nearly 75% on record gold mining output in Australia

Highlights for Maverix included the discovery by RNC Minerals (TSE:RNX, OTCMKTS:RNKLF) of the Father's Day Vein at the Beta Hunt Mine in Australia, where RNC expects 27,000 to 30,000 ounces of gold.

"Maverix continues to have a strong 2018 with yet another record quarter for both production and revenue," Maverix CEO Dan O'Flaherty said in a statement. "A number of our assets had positive news this quarter, highlighted by RNC Minerals' discovery.”

Shares of Maverix climbed C$0.01, or 0.4%, to C$2.45 in midafternoon Canadian trading. They rose $0.03, or 1.9%, to $1.84 on the OTC market.

The company reported adjusted net income of C$1.3 million, and its comprehensive loss narrowed to C$1.2 million from C$4.5 million.

–This story has been updated to give the latest stock prices.

 

Contact Dennis Fitzgerald at dennis@proacative investors.com

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Wed, 21 Nov 2018 10:54:00 -0500 https://ca.proactiveinvestors.com/companies/news/209697/maverix-metals-rises-after-posting-record-revenue-and-attributable-gold-output-in-3q-209697.html
<![CDATA[Media files - Maverix Metals CEO says the company expects record revenue in 2018 ]]> https://ca.proactiveinvestors.com/companies/stocktube/9267/maverix-metals-ceo-says-the-company-expects-record-revenue-in-2018-9267.html Thu, 10 May 2018 14:04:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/9267/maverix-metals-ceo-says-the-company-expects-record-revenue-in-2018-9267.html