Vizsla is awaiting confirmation from Mexican authorities and will provide further updates as appropriate.
Some Vizsla Silver workers who were abducted last month in west-central Mexico have been killed, the company said. The stock plunged.it’s been informed by several families that their relatives who had been taken from the company’s project site in the city of Concordia, in Sinaloa State, have been found dead.
Vizsla is awaiting confirmation from Mexican authorities and will provide further updates as appropriate. “We are devastated by this outcome and the tragic loss of life,” CEO Michael Konnert said in the statement. “Our deepest condolences are with our colleagues’ families, friends and co-workers, and the entire community of Concordia. Our focus remains on the safe recovery of those who remain missing and on supporting all affected families and our people during this incredibly difficult time.” The bodies were recovered from a clandestine grave found in the mountains in the community of El Verde, about 1,250 km from Mexico City, Mexican news outletShares of Vizsla plunged 14% to C$5.39 Monday morning in Toronto, giving the miner a market value of about C$1.9 billion. The stock has lost about 42% of its value since Jan. 28, the last trading day before the company disclosed the kidnappings.some work on its main Panuco silver-gold project after the abductions. Certain activities at and near the site have been temporarily halted as a precautionary measure, the Vancouver-based company said without elaborating. The workers were abducted Jan. 23 by members of a criminal group as they were travelling from the camp where they lived in Concordia to their work at the mine, about 15 km away, Mexican media reported. The victims included engineers and technical personnel working for Vizsla, For months now, Sinaloa has been caught up in an armed conflict between rival factions of the namesake drug cartel. This has led to a surge in homicides.Panuco hosts the world’s largest undeveloped, high‑grade silver resource. It’s the cornerstone of Vizsla’s goal of reaching production of 50 million silver-equivalent oz. by 2035. Panuco holds 12.8 million proven and probable tonnes grading 2.01 grams gold per tonne and 249 grams silver for contained metal of 829,000 oz. gold and 102.7 million oz. silver, according to a 2024 resource. Vizsla wants production at Panuco to start in the second half of 2027. With permitting and project financing efforts advancing, it’s targeting a construction decision as soon as it has received the required approvals – probably in this year’s second half. Vizsla is projecting a mine life of 9.4 years for Panuco. The mine is expected to produce 17.4 million silver-equivalent oz. a year over the life of the project at an all-in sustaining cost of $10.61 per silver-equivalent ounce. This includes more than 20 million silver-equivalent oz. annually during the underground mine’s first five years.Eramet said in a statement that the suspension of its finance chief was not related to the firing of Paulo Castellari as CEO.Newmont wants Barrick to fix Nevada operations before IPOReimagining magnet materials: How AML is challenging the rare earth status quo
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Savannah Guthrie and Siblings Address Missing Mom's Kidnappers in New VideoSavannah Guthrie and her siblings addressed her mom's alleged kidnapper or kidnappers in a new social media video, saying they'll 'pay' for her return
Read more »
'We will pay,' Savannah Guthrie says in desperate video plea to potential kidnappers of her motherSavannah Guthrie has told the potential kidnappers of her mother Nancy Guthrie that the family is prepared to pay for her safe return.
Read more »
'We will pay,' Savannah Guthrie says in desperate video plea to potential kidnappers of her motherSavannah Guthrie has told the potential kidnappers of her mother Nancy Guthrie that the family is prepared to pay for her safe return.
Read more »
Savannah Guthrie Tells Mother’s Suspected Kidnappers ‘We Will Pay’ in New VideoSavannah Guthrie and her siblings released a new video statement telling the people who allegedly kidnapped their mother Nancy, 'We will pay.'
Read more »
Savannah Guthrie tells mother’s possible kidnappers ‘we will pay’ for 84-year-old’s returnAn alleged ransom letter sent to a local media outlet reportedly demanded a $6 million payment before this Monday at 5 p.m.
Read more »
Nancy Guthrie Kidnappers’ Ransom Letter Demands Reportedly RevealedNancy Guthrie’s alleged kidnappers’ demands for money were revealed in a ransom letter sent to several media outlets
Read more »