Cerrado Gold has acquired the Manantial Espejo mine in Santa Cruz, Argentina, from Pan American Silver for $20 million in cash. The mine, which produced up to 137,500 gold equivalent ounces annually in its peak years, ceased operations in 2022 but retains mineralized material and processing infrastructure. Cerrado plans a phased restart in 2027, starting with refurbishing the mine and processing low-grade stockpiles, aiming to ramp up production with exploration targeting resource growth. The acquisition includes all liabilities and a 1% net smelter royalty to Pan American, with strong local government support expected to facilitate operations.
Pan American Silver Corp. currently holds a market cap of $16.30 billion and offers a dividend yield of 1.88%, with a trading volume of 2,658,181 shares as of Nov 13, 2026, 19:42 WIB on Pluang. The stock price stands at USD 37.80, up 0.21% for the day. This acquisition news comes while Pan American Silver maintains strong investor interest, reflected in 100% buy order activity on Pluang at the same time.
