11:36 AM EDT, 06/23/2025 (MT Newswires) -- Torex Gold Resources ( TORXF ) was last seen up 3.7% after the company agreed to acquire Reyna Silver ( RSNVF ) in an all-cash deal for about US$26 million.

The company said the acquisition gives it control of Reyna's exploration properties in Mexico and the United States.

"The acquisition of Reyna Silver ( RSNVF ) provides Torex with immediate access to new and exciting early-stage exploration projects within prolific mining camps in northern Mexico and Nevada, consistent with our strategy to create a diversified, Americas-focused precious metals producer built on a portfolio of quality assets, including exploration and development stage projects and producing mines," said Torex Chief Executive Jody Kuzenko.

Upon closing, Torex plans to build off the exploration and drilling programs undertaken by Reyna Silver ( RSNVF ) at both Mexican assets as well as undertake a thorough evaluation of the potential of the properties in Nevada. In connection with the deal, the company agreed to buy units of Reyna Silver ( RSNVF ) for a total investment of $1.1 million in a non-brokered private placement.

The company had its outperform rating and $7000 target price confirmed at National Bank of Canada after the deal announcement. The bank said its investment thesis considers elevated free cash flow post-Media Luna startup, differentiated by about 20% revenue from copper and brownfield upside, tempered by modest internal rate of return in the 2022 Technical Report and development risks.

Shares of the company were last seen up $1.63 at $45.19 on the Toronto Stock Exchange.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 45.17, Change: +1.61, Percent Change: +3.70