Fresnillo plc (LSE:FRES) announced the acquisition of Probe Gold Inc., a Canadian exploration company, in a deal valued at approximately CAD$780 million. The transaction marks Fresnillo’s strategic entry into Canada, expanding its footprint into the Val d’Or Mining Camp in Quebec—one of North America’s most established gold regions. The acquisition aligns with Fresnillo’s long-term strategy to broaden its resource base and strengthen its portfolio with high-quality exploration assets. Probe’s flagship Novador Gold Project offers significant exploration upside and is expected to play a key role in supporting Fresnillo’s future production growth. The deal, funded through existing cash reserves, is expected to close in the first quarter of 2026 pending shareholder and court approvals.
Fresnillo’s outlook remains positive, underpinned by strong financial performance and encouraging operational results. Recent earnings call commentary reinforces the company’s growth trajectory and efficiency improvements. However, technical signals and valuation metrics suggest a degree of caution, reflecting potential overvaluation and mixed short-term trading momentum.
More about Fresnillo plc
Fresnillo plc is the world’s leading primary silver producer and Mexico’s largest gold producer, listed on the London Stock Exchange. The company focuses on the exploration, development, and production of gold and silver assets, maintaining a strong commitment to sustainability, safety, and community engagement across its operations.
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