Proactiveinvestors USA & Canada Maverix Metals Inc https://ca.proactiveinvestors.com Proactiveinvestors USA & Canada Maverix Metals Inc RSS feed en Sat, 15 Jun 2019 23:20:38 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Maverix Metals has new institutional investors after Gold Fields sells its stake ]]> https://ca.proactiveinvestors.com/companies/news/221654/maverix-metals-has-new-institutional-investors-after-gold-fields-sells-its-stake-221654.html Maverix Metals Inc (CVE:MMX), the streaming and royalty firm, has new North America-based institutional investors after major backer Gold Fields Ltd sold out its entire stake in the resource group.

In a series of transactions over the last three weeks, Gold Fields Netherlands Services, a subsidiary of Gold Fields sold over 21.4 million Maverix shares, which represented around 19.9% of the firm, Maverix said in a brief statement.

The buyers of Gold Fields' block of shares were mainly North America-based financial institutions, led by Resolute Funds Ltd and Tocqueville Asset Management.

Global leaders in mining investment

"We would like to warmly welcome these institutions as new shareholders of Maverix, recognizing them as global leaders in the mining investment sector," said Dan O'Flaherty, Maverix's president and CEO.

"With our recent application to list on the NYSE American, our conditional approval for graduation to the TSX, and now broadening our shareholder base, we continue to execute on our plan to grow our public markets profile, attract a wider investor following and improve our trading liquidity."

Last month, the group said it had applied to list its shares on the NYSE American exchange. In conjunction, Maverix wants to graduate to the Toronto Stock Exchange (TSX) from the Venture exchange, where it is currently, and it has received conditional approval to have its shares listed on the TSX.

Contact the author at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Thu, 06 Jun 2019 09:53:00 -0400 https://ca.proactiveinvestors.com/companies/news/221654/maverix-metals-has-new-institutional-investors-after-gold-fields-sells-its-stake-221654.html
<![CDATA[Media files - Maverix Metals announce listing to NYSE American and graduation to TSE. ]]> https://ca.proactiveinvestors.com/companies/stocktube/13449/maverix-metals-announce-listing-to-nyse-american-and-graduation-to-tse-13449.html Wed, 22 May 2019 16:39:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/13449/maverix-metals-announce-listing-to-nyse-american-and-graduation-to-tse-13449.html <![CDATA[News - Maverix Metals Inc applies to list on NYSE American exchange ]]> https://ca.proactiveinvestors.com/companies/news/220781/maverix-metals-inc-applies-to-list-on-nyse-american-exchange-220781.html Maverix Metals Inc (CVE:MMX) told investors it has applied to list its shares on the NYSE American exchange.

In conjunction with this, Maverix wants to graduate to the Toronto Stock Exchange (TSX) from the Venture exchange, where it is currently, and it has received conditional approval to have its shares listed on the TSX.

"Our anticipated listings on the NYSE American and the TSX represent meaningful milestones in the growth of the company," said Dan O'Flaherty, Maverix president and  CEO. "These listings will expose Maverix to a much broader array of institutional and retail investors as we continue to enhance our portfolio of precious metals royalties and streams."

READ: Maverix Metals proposes share consolidation in anticipation of US listing

The listing of Maverix in New York remains subject to the approval of the NYSE American and the satisfaction of all applicable listing and regulatory requirements.

As part of its plans to dual list on a US exchange, the firm carried out  a share consolidation on a 1:2 basis, meaning around 108 million shares will begin trading on the TSX Venture Exchange today, after shareholders passed a special resolution.

The resource group has consolidated its capital on a one-new-share-for-every-two-old basis, reducing the number of shares outstanding to 108 million shares from around 216 million.

Maverix Metals currently has a portfolio of 79 royalties and streams, of which 12 are producing mines.

---Updates to include latest listing plans---

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Wed, 22 May 2019 07:28:00 -0400 https://ca.proactiveinvestors.com/companies/news/220781/maverix-metals-inc-applies-to-list-on-nyse-american-exchange-220781.html
<![CDATA[News - Maverix Metals posts record income and higher revenue during first quarter ]]> https://ca.proactiveinvestors.com/companies/news/220336/maverix-metals-posts-record-income-and-higher-revenue-during-first-quarter-220336.html Maverix Metals Inc (CVE:MMX) (OTCMKTS:MACIF), the precious metals streaming company, achieved a record income level in the first quarter of 2019, part of robust financial results released on Wednesday.

Net income during the first quarter reached C$1.5 million or $0.01 per share, the highest level recorded for the streaming company. During the year-ago quarter the company posted net income of C$1.2 million or $0.01 per share.

Revenue was also up this quarter to C$7.5 million compared to C$6.8 million in 1Q 2018. Maverix also posted an operating cash flow of C$5.2 million compared to C$5.4 million during the year-ago quarter.

READ: Maverix Metals proposes share consolidation in anticipation of US listing

In March, the company acquired a new silver stream on the El Mochito Mine operated by Ascendant Resources Inc. The agreement saw Maverix purchasing 22.5% of the silver produced from the mine, which Ascendant expects to produce between 850,000 and 1,200,000 ounces of contained silver in concentrate in 2019.

Maverix made an upfront payment of US$7.5 million for streaming rights, with an option to acquire an additional 17.5% for US$7.5 million at a later date.

"Maverix was pleased to add a cash flowing silver stream on Ascendant's producing El Mochito mine to our growing portfolio this quarter, as well as increase our revenue by 10% compared to the first quarter of 2018," commented Dan O'Flaherty, president and CEO of Maverix.

"Our results this quarter were consistent with our expectations and we remain on track to meet our previously announced guidance for 2019. Maverix will continue to focus on actively evaluating potential opportunities to expand our portfolio of high-quality royalties and streams."

Production guidance achievable

The Vancouver-based company said in a statement that it remains well-positioned to achieve its current production guidance of 22,500 and 24,500 ounces of gold for 2019.

“As a number of our paying assets are continuing to ramp up operations throughout the year, we expect our attributable gold equivalent production to be weighted towards the second half of 2019,” it said in a statement.

The streaming company is preparing for a US listing to expand its shareholder base.

Shares of Maverix were most recently trading at C$2.69 in Toronto and US$1.99 on OTC markets.

--Updates share price--

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Wed, 15 May 2019 09:42:00 -0400 https://ca.proactiveinvestors.com/companies/news/220336/maverix-metals-posts-record-income-and-higher-revenue-during-first-quarter-220336.html
<![CDATA[News - Maverix Metals proposes share consolidation in anticipation of US listing ]]> https://ca.proactiveinvestors.com/companies/news/218978/maverix-metals-proposes-share-consolidation-in-anticipation-of-us-listing-218978.html Maverix Metals Inc (CVE:MMX) announced Tuesday that it is planning to seek a US listing to expand its shareholder base.

The Vancouver-based company, which currently trades on the TSX Venture Exchange, is proposing a consolidation of issued and outstanding shares, on the basis of one post-consolidation share for every two pre-consolidation shares.

"A consolidation would allow Maverix to pursue a dual listing on a U.S. stock exchange, which is consistent with our strategy of expanding our potential shareholder base,” said Dan O'Flaherty, Maverix’s president and CEO. "This would be an exciting step in the growth of the company."

READ: Maverix Metals adds to royalty portfolio with new silver stream in Honduras

The junior exploration company currently has around 216 million shares outstanding.

If shareholders vote in favour of consolidation, the move would reduce the number of issued and outstanding shares to around 108 million, with the exercise price proportionately adjusted based on the consolidation ratio.

The consolidation is subject to TSX Venture Exchange approval.

Maverix currently has a portfolio of 79 royalties and streams, of which 12 are producing mines.

Shares of Maverix eased 1.8% on Tuesday to sit at C$2.71 in Canada.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

 

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Tue, 23 Apr 2019 11:37:00 -0400 https://ca.proactiveinvestors.com/companies/news/218978/maverix-metals-proposes-share-consolidation-in-anticipation-of-us-listing-218978.html
<![CDATA[Media files - Maverix Metals raised the bar in 2018 and 2019 is off to a great start as well ]]> https://ca.proactiveinvestors.com/companies/stocktube/12974/maverix-metals-raised-the-bar-in-2018-and-2019-is-off-to-a-great-start-as-well-12974.html Mon, 15 Apr 2019 12:48:00 -0400 https://ca.proactiveinvestors.com/companies/stocktube/12974/maverix-metals-raised-the-bar-in-2018-and-2019-is-off-to-a-great-start-as-well-12974.html <![CDATA[News - Maverix Metals adds to royalty portfolio with new silver stream in Honduras ]]> https://ca.proactiveinvestors.com/companies/news/217530/maverix-metals-adds-to-royalty-portfolio-with-new-silver-stream-in-honduras-217530.html Maverix Metals Inc (CVE:MMX) (OTCMKTS:MACIF) bolstered its streaming portfolio with a new agreement at the El Mochito Mine, owned and operated by Ascendant Resources Inc.

The deal will see Maverix make an advance payment of $US7.5 million in return for 22.5% of the silver produced from El Mochito, and an option to pay a further US$7.5 million for an additional 17.5% of the silver produced.

Shares of Maverix shot up nearly 7% to C$2.58 in Toronto and 6% to US$1.92 in New York.

Maverix will pay 25% of the silver price at the time of delivery. The stream will be effective from January 1, 2019.

El Mochito is located in northwestern Honduras and currently produces around 2,300 tons per day of zinc, lead and silver. Ascendant’s production guidance for 2019 is between 850,000 and 1.2 million ounces of silver concentrate.

READ: Maverix Metals achieved record revenue in 2018; sees further growth ahead

For Maverix shareholders, the new stream provides the royalty company with an immediate increase to cash flow, with around 165,000 ounces of annual silver deliveries over the first three years of the agreement.

“We are very pleased to partner with the team at Ascendant and we look forward to participating with them in the long-term potential of El Mochito,” commented Dan O’Flaherty, CEO of Maverix, in a statement. “This transaction is consistent with our stated strategy of acquiring long life precious metal streams that are immediately accretive to both our cash flow and net asset value.”

The Vancouver-based company currently has 79 royalties and streams, of which 12 are producing mines.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Fri, 29 Mar 2019 08:27:00 -0400 https://ca.proactiveinvestors.com/companies/news/217530/maverix-metals-adds-to-royalty-portfolio-with-new-silver-stream-in-honduras-217530.html
<![CDATA[News - Maverix Metals achieved record revenue in 2018; sees further growth ahead ]]> https://ca.proactiveinvestors.com/companies/news/217454/maverix-metals-achieved-record-revenue-in-2018-sees-further-growth-ahead-217454.html Maverix Metals Inc (CVE:MMX), the growing gold royalty and streaming company, hailed what it called an "exceptional" 2018 as it posted results for its full year and fourth quarter.

The company currently has 79 royalties and streams, of which 12 have mines, which are producing, not including royalty payments from industrial minerals and power assets.

Revenue for the three months to end December came in at $9 million, versus $9.8 million in the previous quarter, while adjusted net income was  $0.7 million versus $1.2 million in the September quarter.

READ THE DEEP DIVE: Maverix Metals is a rapidly emerging gold royalty and streaming company

For the year as a whole, the group posted record total revenue of $34 million, up from $19.5 million in 2017.

Adjusted net income for the year was $3.5 million (2017: $3.08 million), while it saw record attributable gold equivalent ounces sold of 20,886 ounces (2017: 11,965 ounces), with average cash cost per attributable gold equivalent ounce of $162 (2017: $166) resulting in cash operating margins of $1,468 per ounce.

"Maverix had an exceptional 2018, achieving record revenue of over $34 million, an increase of 75% from 2017 and exceeding the high end of our 2018 guidance. Throughout the year, we continued to grow and strengthen our royalty and streaming portfolio, more than tripling its size and adding new cash-flowing assets. We look forward to continuing to build on this success with further growth and value creation in 2019," the company said.

Looking ahead

Looking ahead, Maverix said for the whole year, it continued to expect the previously announced guidance of attributable gold equivalent production to come in between 22,500 and 24,500 ounces.

"With a number of our paying assets continuing to ramp up operations throughout the year, we expect our attributable gold equivalent production to be weighted towards the second half of 2019," the company said.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter@Gile74

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Thu, 28 Mar 2019 12:21:00 -0400 https://ca.proactiveinvestors.com/companies/news/217454/maverix-metals-achieved-record-revenue-in-2018-sees-further-growth-ahead-217454.html
<![CDATA[News - Maverix Metals uplists to OTCQX exchange ]]> https://ca.proactiveinvestors.com/companies/news/216187/maverix-metals-uplists-to-otcqx-exchange-216187.html Maverix Metals Inc (CVE:MMX) , the Canadian royalty and streaming company, will kick off trading today on the OTCQX Best Market under the ticker MACIF, after uplisting from the Pink market.

The move will widen the Vancouver-based company’s appeal to US investors and improve liquidity.

READ: Maverix Metals is a rapidly emerging gold royalty and streaming company

“We welcome Maverix Metals to an impressive roster of more than 140 Canadian companies that cross-trade their shares on the OTCQX Market to provide enhanced transparency for their US investors," said Jason Paltrowitz, executive vice-president of corporate services at OTC Markets Group in a statement.

Founded in 2016 by Chairman Geoff Burns and CEO Daniel O’Flaherty, Maverix’s aim is to deliver shareholder returns through building an attractive precious metals royalty and streaming portfolio.

It now has 79 royalties and streams to its name (mainly focused on gold), of which 12 of the royalties and streams are on mines that are currently producing. These 79 royalties span 15 countries, but the vast majority are in mining friendly jurisdictions.

Maverix shares closed up 3.9% to finish at C$2.69 in Canadian trade on Friday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Mon, 11 Mar 2019 07:54:00 -0400 https://ca.proactiveinvestors.com/companies/news/216187/maverix-metals-uplists-to-otcqx-exchange-216187.html
<![CDATA[News - Maverix Metals beats production guidance for 2018, sees more growth in 2019 ]]> https://ca.proactiveinvestors.com/companies/news/215246/maverix-metals-beats-production-guidance-for-2018-sees-more-growth-in-2019-215246.html Maverix Metals Inc (CVE:MMX), the royalty and streaming company, posted record attributable gold equivalent production in 2018 and says it's well positioned for more growth this year.

For the 12 months, gold equivalent production was around 20,900 ounces, better than the high end of the firm's increased guidance of 19,000 ounces, up 75% compared with 2017.

READ THE BIG PICTURE: Maverix Metals is a rapidly emerging gold royalty and streaming company

For the final three months of the year, attributable gold equivalent production came in at 5,650 ounces, an increase of 40% over the fourth quarter of 2017.

"Maverix had another successful year highlighted by record attributable gold equivalent production," said  Dan O'Flaherty,  the president and CEO of Vancouver-based Maverix. "We expect to build off this performance with further significant growth in 2019 as we remain focused on continuing to increase the size and quality of our attractive, cash flowing precious metals royalty portfolio."

Founded in 2016 by Chairman Geoff Burns and CEO Daniel O’Flaherty, Maverix’s sole aim is to deliver shareholder returns through building an attractive precious metals royalty and streaming portfolio.

Looking back and looking ahead

The company now has 79 royalties and streams to its name (mainly focused on gold), of which 12 of the royalties and streams are on mines that are currently producing. These 79 royalties span 15 countries, but the vast majority are in mining friendly jurisdictions

Among the highlights of 2018, Maverix acquired a major portfolio of 51 royalties from the major Newmont Mining.

There was also the creation of a silver stream on Northern Vertex's Moss Mine in Arizona and the expansion of financial capacity, with a US$50M revolving credit facility with the Canadian Imperial Bank of Commerce and National Bank Financial.

For 2019, Maverix expects attributable gold equivalent production expected to be between 22,500 and 24,500 ounces.

Contact Giles at giles@proactiveinvestors.com

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Mon, 25 Feb 2019 10:30:00 -0500 https://ca.proactiveinvestors.com/companies/news/215246/maverix-metals-beats-production-guidance-for-2018-sees-more-growth-in-2019-215246.html
<![CDATA[Media files - Maverix Metals CEO releases 2019 guidance and talks successful 2018 ]]> https://ca.proactiveinvestors.com/companies/stocktube/12325/maverix-metals-ceo-releases-2019-guidance-and-talks-successful-2018-12325.html Mon, 25 Feb 2019 07:02:00 -0500 https://ca.proactiveinvestors.com/companies/stocktube/12325/maverix-metals-ceo-releases-2019-guidance-and-talks-successful-2018-12325.html <![CDATA[News - Maverix Metals is a rapidly emerging gold royalty and streaming company ]]> https://ca.proactiveinvestors.com/companies/news/213442/maverix-metals-is-a-rapidly-emerging-gold-royalty-and-streaming-company-213442.html Maverix Metals Inc (CVE:MMX) is a rapidly emerging gold royalty and streaming company with high margins and growing free cash flow.

Royalty companies have long held an important role in the mining sector. Developing a mine to start producing gold or other precious metals is an expensive and time-consuming process, potentially taking years and costing many millions of dollars. So, the royalty company serves as a financier to help fund the construction of, or expansion of existing mines and can even finance earlier stage exploration projects. 

In return for making an upfront payment (the mine or project funding), Maverix would receive a royalty on the underlying precious metal sold by the operator, or in the case of a precious metal stream, the right to purchase an agreed-upon amount of gold, silver or other precious metal, at a significant discount to the spot commodity price. Such royalty and streaming agreements provide Maverix with exposure to price appreciation of precious metals and the exploration upside of the mine or project without any additional capital outlay, while also fixing the ongoing costs of acquiring the precious metals in the case of a stream.

Founded in 2016 by Chairman Geoff Burns and CEO Daniel O’Flaherty, Maverix’s sole aim is to deliver shareholder returns through building an attractive precious metals royalty and streaming portfolio. It now has 79 royalties and streams to its name (mainly focused on gold), of which 12 of the royalties and streams are on mines that are currently producing. These 79 royalties span 15 countries, but the vast majority are in mining friendly jurisdictions.

Investors are typically drawn to companies like Maverix because they: 1) provide meaningful leverage to the future gold price; 2) offer asset diversification within their portfolios; and, 3) deliver low fixed operating costs. Additionally, the high margins and positive free cash flow profile provides downside protection for investors.

Newmont royalty portfolio acquisition was a game-changer

A transformational deal in June last year was the purchase agreement struck with Newmont Mining Corp (NYSE:NEM) -- one of the globe's biggest gold diggers to acquire a large portfolio of royalties.

Maverix issued 60 million shares, 10 million warrants and paid US$17.0 million in cash to complete the purchase. The warrants are exercisable for five years at US$1.64 per share.

Maverix got its hands on 51 royalties in 11 different countries and received total proceeds of US$17 million in cash from the right of first refusal exercises. Newmont is also the company's largest shareholder with a 28% interest.

Other notable big-name shareholders are Pan American Silver Corp (NASDAQ:PAAS) (26%) and Gold Fields Ltd (NYSE:GFI) (20%).

Benefits of the Newmont deal

The Newmont deal nearly tripled the number of royalties Maverix had and brought immediate cash flow and growth potential.
Maverix says it now estimates cash flow of between C$6 million and C$8 million from the Newmont portfolio the potential to grow cash flow in the future to more than C$20 million per year.

The Newmont portfolio is mainly gold and adds more than 340,000 ounces of attributable gold in measured and indicated resources to the Maverix portfolio, about double Maverix’s portfolio at the time of acquisition. It also contains royalties on a number of assets in Nevada, a world-class mining jurisdiction.

History of the company

Since its founding in 2016, the company has acquired three major royalty portfolios. 

In July of 2016 it acquired the Pan American Silver portfolio and then in December 2016, it bought the transformational Gold Fields portfolio of royalty assets.

The game-changing Newmont portfolio was bought last year when the Company also settled a new US$50 million credit facility.

Encouraging financials

A look at the most recent earnings report for the three and nine months ending in September 2018 showed a company in good shape and growing.

Total revenue and net income for the three and nine months ended September 30th were C$9.8 million and C$25.0 million and C$0.8 million and C$1.6 million, respectively.

There was also record operating cash flow for the three and nine months of C$4.8 million and C$11.7 million, respectively, and record total attributable gold equivalent ounces sold of 6,195 ounces and 15,236 ounces, respectively, not including around 2,447 ounces of gold produced but not yet payable from the company's La Colorada gold stream.

Promising outlook

Based on the company’s existing streams and royalties, Maverix says it expects to exceed its previously forecasted attributable gold equivalent production for its fiscal year 2018 of between 18,000 and 19,000 ounces.

Approximately 95% of total revenue is expected to be derived from gold and silver.

So things are shaping up nicely for this royalty company and it looks like investors can expect more good news to come in 2019.

The share price seemingly underscores investor confidence in the company, as the stock has added around 30%, to $2.27 since last August.

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Mon, 28 Jan 2019 13:48:00 -0500 https://ca.proactiveinvestors.com/companies/news/213442/maverix-metals-is-a-rapidly-emerging-gold-royalty-and-streaming-company-213442.html
<![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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