Canada-based precious metals producer SSR Mining has completed the on-market transaction to sell nine-million shares of fellow TSX-listed SilverCrest Metals for C$90-million.
The company sold all its shares in SilverCrest for C$10.06 apiece.
“We secured a pre-tax gain of C$55-million on our investment of C$35-million over an 18-month period, while our equity investment helped fund SilverCrest's exciting project and strengthen their balance sheet,” SSR president and CEO Paul Benson said, noting that it had been a “great outcome” for both sets of shareholders.
SilverCrest owns the high-grade Las Chispas gold/silver project, in Mexico.