Key Facts
—The bet. Fresnillo, the world’s largest primary silver producer, agreed to take a 5% stake worth up to $110m in Sinda, a young silver-and-gold explorer.
—The debut. Sinda listed on the New York Stock Exchange on June 24 under the ticker SIND, raising up to $213m by selling 17.75m shares.
—The prize. Sinda says it holds one of Latin America’s largest high-grade underground silver-and-gold deposits, in the historic mining state of Guanajuato.
—The company kept. Streaming group Franco-Nevada joined Fresnillo as a strategic backer of the offering, lending the float extra industry weight.
