Coeur Mining Completes $150 Million Acquisition of Mexican Silver Mine
Coeur Mining finalized its purchase of the La Preciosa silver project from Avino Silver & Gold Mines for $150 million in cash and stock. The deal expands Coeur's production capacity in Mexico and triggers new financial reporting requirements.
insidermonkey.comCoeur Mining, Inc. disclosed in an SEC filing on May 6, 2026, that it completed the acquisition of the La Preciosa silver project in Durango, Mexico, from Avino Silver & Gold Mines Ltd. on May 5, 2026.
The transaction affects Coeur's operations by adding a development-stage silver asset projected to produce 10 million ounces annually once operational, based on resource estimates in the filing. Coeur, which operates five mines across North America, gains control over La Preciosa's 27,000 hectares of concessions, impacting approximately 500 local employees and contractors tied to the project, per the Item 2.01 description.
The consideration totals $150 million, consisting of $100 million in cash and 10 million shares of Coeur common stock valued at $50 million at closing, as detailed in the filing's structured data.
Prior to the acquisition, La Preciosa was under Avino's ownership with no active production; post-closing, Coeur assumes full operational control and integrates the asset into its portfolio, with development expected to commence in Q3 2026 according to the filing's timeline.
The change takes effect immediately upon closing on May 5, 2026, altering Coeur's asset base from primarily gold-focused to increased silver exposure.
The completion initiates a 71-day window for Coeur to file pro forma financial statements under Item 9.01, due by July 15, 2026, per SEC regulations. Avino must update its own disclosures within four business days, and the deal activates earn-out provisions where Avino receives additional payments if production milestones are met by 2028, as stated in the filing.
Markets will reflect the stock issuance in Coeur's share count, requiring updated investor reports in the next quarterly filing.
Coeur previously acquired the Silvertip mine in 2017, marking this as its second major asset purchase in the past decade, per company records. Congress has considered legislation like the Mining Regulatory Clarity Act, which could streamline permitting for projects like La Preciosa if passed.
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