Tatatila Project Now Fully Owned by Mexican Gold Mining

Mexican Gold Mining has announced the acquisition of full ownership of certain mineral titles and associated rights covering 3,824.3585ha at the Tatatila Project in Veracruz, Mexico. This acquisition was completed under a mining concessions assignment agreement with its subsidiary Roca Verde Exploración and Chesapeake Gold, along with its subsidiaries Minerales El Prado, and Chesapeake México.

The Tatatila concessions are strategically located contiguous to, or surrounding, Mexican Gold’s Las Minas Project, strengthening the company’s portfolio in the Veracruz mining district and expanding its exploration potential in the region.

As part of the transaction, Mexican Gold has issued Chesapeake 4,451,361 common shares (at a deemed price of US$0.05 per share, representing an aggregate value of US$222,568 and equivalent to 14.99% of the company’s total issued and outstanding shares. In addition, the company granted Chesapeake Mexico a 1.5% net smelter returns royalty on the Interest. Roca Verde has the option to repurchase 0.5% of the Royalty from Chesapeake Mexico for US$500,000 within 10  years of the Assignment Agreement’s execution, which would reduce the Royalty to 1%.

All Consideration Shares are subject to a statutory hold period under Canadian securities laws, expiring March 13, 2026, four months and one day after issuance. They are also subject to additional lock-up provisions: 25% of the shares will be released on Nov. 12, 2026, one year from issuance, with an additional 25% released every six months thereafter, so that the full balance will be released over a 2.5-year period. The transaction is pending final approval from the TSX Venture Exchange.

Mergers and Acquisitions in Mexico

Mexican Gold’s acquisition of the Tatatila Project ranks among the most significant M&A moves in Mexico’s mining sector in 2025, reflecting ongoing consolidation and strategic repositioning among major and mid-tier miners. 

Alongside Mexican Gold, Pan American Silver completed its US$2.1 billion acquisition of MAG Silver, significantly increasing its exposure to high-grade silver through MAG’s 44% stake in the Juanicipio Mine in Zacatecas, one of Mexico’s premier silver-gold operations. Meanwhile, Torex Gold secured full ownership of the Los Reyes gold-silver project in Sinaloa through a US$327 million takeover of Prime Mining. Los Reyes is a development-stage asset with over 1.5Moz of gold in indicated resources, allowing Torex to expand its operational footprint and diversify its resource base.

In September, First Majestic Silver announced its plan to acquire Gatos Silver in an all-stock transaction valued at US$970 million, uniting the assets of both companies across three silver-producing districts. Gatos’ Cerro Los Gatos mine will join First Majestic’s portfolio alongside the San Dimas mine in Durango and the Santa Elena operation in Sonora. The Los Gatos district comprises 14 identified mineralized zones, including three silver-lead-zinc deposits: the Cerro Los Gatos mine, the Esther deposit, and the Amapola deposit.

More recently, Coeur Mining announced its acquisition of New Gold in an all-stock transaction valued at approximately US$7 billion, forming a major North American mining company. Coeur stated that the acquisition will strengthen its balance sheet, enhance cash flow, and provide greater operational flexibility. The addition of New Gold’s assets is expected to lower production costs and improve profit margins.

Despite these headline transactions, the overall value of M&As in the mining sector has declined. According to Bloomberg, in 2024, mining M&A deals have seen a 94% drop compared to 2023, noted Todd Sibilla, Commodity Applications Specialist at Bloomberg, during a conference. Experts note that some M&A deals face government scrutiny, potentially blocking foreign acquisitions. Additionally, rising metal prices and improved technology are driving redevelopment of old mines, but Carolyn McIntosh, Partner, Squire Patton Boggs, cautions that buyers may inherit environmental remediation liabilities, making careful assessment essential in M&A transactions.