Silver Viper Welcomes Fresnillo as Cornerstone Investor After Coneto Deal Closes

Silver Viper Minerals completes Coneto acquisition, bringing Fresnillo as a 13.19% stakeholder. New CFO and board member appointed amid drilling plans and mixed market reaction.

Silver Viper Minerals has completed its acquisition of the Coneto silver-gold project in Durango, Mexico, a transaction that simultaneously brings the world’s largest primary silver producer onto its shareholder register. The deal, which saw the company issue approximately 25.5 million shares at C$0.80 apiece, hands Fresnillo plc and Orex Minerals the consideration for a 100% stake in the asset.

Fresnillo now holds a 13.19% strategic position in Silver Viper, and an investor agreement provides the Mexican mining heavyweight with anti-dilution protections going forward. The partnership centres on a mineralised zone containing an estimated 19.1 million ounces of silver, part of a broader resource base that technical reports put at roughly 538,000 ounces of gold-equivalent.

The corporate shake-up extends beyond the balance sheet. Rakesh Malhotra has been appointed chief financial officer, tasked with steering the company’s expansion across Mexico’s precious-metals belt. Ruben Alvidrez, a former Citigroup executive who spent more than two decades overseeing the bank’s Latin American operations, has joined the board of directors. Their arrivals signal a push to strengthen both financial discipline and institutional credibility as Silver Viper embarks on an intensive drilling programme targeting deeper horizons at Coneto.

Market reaction to the developments has been mixed. Shares climbed around 7% to €0.54 on Wednesday following the announcement, yet the stock remains under severe pressure year-to-date, having shed roughly 60% of its value. The secondary article notes a slightly steeper decline of 63% from the start of 2024, with the equity touching a new annual low of €0.50. Technical indicators flash warning signs: the relative strength index stands at 76.6, suggesting an overbought condition, while volatility runs at a lofty 96%.

Despite the near-term turbulence, Silver Viper’s inclusion in the TSX Venture 50 — a ranking of the exchange’s top-performing growth companies — underscores the progress management has made. A planned uplisting to the OTCQX market in the United States aims to improve liquidity and broaden the investor base.

The exploration calendar is packed. An updated resource estimate for the flagship La Virginia project is due in the third quarter of 2026, followed by a fresh assessment of the Coneto area before year-end. With Fresnillo’s technical heft and a reconfigured leadership team now in place, the company is betting that deeper drilling will unlock value that the current share price has yet to reflect.