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Bunker Hill to acquire Silver47 in $163M all-stock deal
The deal values Silver47 at a 38% premium to its prior close and brings an Alaska, Nevada, and New Mexico exploration portfolio into Bunker Hill’s Idaho path to commercial production in 2026.
Mining.com reports that Bunker Hill Mining will buy Silver47 Exploration in an all-stock transaction valued at about $163 million to create a larger US-focused silver and critical minerals company.
Under the terms announced Friday, Silver47 shareholders will receive 0.1724 Bunker Hill common shares for each Silver47 share. The offer represents a 38% premium to Silver47’s Thursday close and about a 30% premium to its 20-day volume-weighted average price.
The combined company, expected to be named Bunker Hill Silver, will pair Bunker Hill’s Idaho mine in Silver Valley with Silver47’s exploration and development portfolio across Alaska, Nevada, and New Mexico. Existing Bunker Hill shareholders are set to own 57% of the enlarged company, while Silver47 investors would hold the remaining 43%.
Bunker Hill said it is targeting commercial production in the fourth quarter of 2026, and the two companies expect to complete the transaction in November, after which the combined entity is expected to continue trading on the Toronto Stock Exchange. The buyer also secured about $11 million in new financing, including a $10 million concentrate prepayment facility with Ocean Partners UK and a $1 million draw from a standby facility with Teck.
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