-=Tahoe Resources (TAHO) to be acquired by Pan American Silver (PAAS) for $1.07 billion

• update 2/22/19: Pan Am Silver (PAAS) and Tahoe Resources (TAHO) today completed the previously announced transaction whereby Pan American acquired all of the issued and outstanding shares of Tahoe.

Tahoe Resources to be acquired by Pan American Silver (PAAS) for cash/stock; maximum consideration of $275 mln

• Pursuant to the Arrangement, Tahoe shareholders may elect to receive US$3.40 in cash or 0.2403 Pan American shares for each Tahoe share, subject in each case to pro-ration based on a maximum cash consideration of US$275 million and a maximum number of Pan American shares issued of 56.0 million, totaling US$1,067 million.
• The Base Purchase Price represents a premium of 34.9% to Tahoe's volume weighted average price for the 20-day period ending on November 13, 2018.
• The Board of Directors of Pan American has unanimously approved the Transaction. The Board of Directors of Tahoe, on the unanimous recommendation of a Committee of Independent Directors of Tahoe, has unanimously approved the Transaction. The Board of Directors of each of Pan American and Tahoe unanimously recommend that Pan American and Tahoe shareholders vote in favor of the Transaction.

Nov 14 (Reuters) - Pan American Silver Corp said on Wednesday it agreed to buy miner Tahoe Resources Inc for $1.07 billion in cash and stock, creating one of the world's top silver mining companies.

Pan American shareholders will own about three-fourths of the combined company, with Tahoe shareholders owning the rest in the combined company, Pan American said.

Tahoe shareholders may elect to receive $3.40 in cash or 0.2403 Pan American share for each Tahoe share held, the company said.

The base purchase price of $3.40 per share represents a premium of about 55 percent to Tahoe's last close.

The purchase price is limited to a maximum cash consideration of $275 million and a maximum issue of 56 million Pan American shares.

The deal also includes an issuance of contingent value rights to Tahoe shareholders, payable upon first commercial shipment of concentrate following restart of operations at the Escobal mine, the company said.

The total consideration, including the base purchase price and the conditional payment, is $4.10 per share.

The boards of both companies have approved the deal, the company said.

CIBC World Markets Inc is acting as lead financial adviser to Pan American and Trinity Advisors Corp is acting as financial adviser to Tahoe.

The deal is expected to close in the first-quarter of 2019.

=Tahoe Resources (TAHO) raises gold production guidance

Tahoe Resources raises gold production guidance

Revised 2017 Gold Guidance by Mine

• The Company has increased its guidance for gold production to 400,000 to 450,000 ounces for 2017. The increase in the Company's revised gold production guidance for the remainder of 2017 is due in large part to the positive mine plan reconciliation experienced at La Arena year to date.
• The positive production reconciliation at La Arena has prompted the Company to initiate a drilling program in the fourth quarter to better define the mineralization below the Calaorco pit with the goal of extending the mine life.

Capital Projects Update

• Shahuindo Expansion - Construction of the initial 12,000 tpd crushing and agglomeration circuit is now 90% complete, with commissioning anticipated in the coming weeks.
• Bell Creek Shaft Project - The Bell Creek Shaft Project continues on schedule and budget. Excavation of the first two pilot raises is complete and shaft benching to enlarge to the final dimension continues to progress as expected.

=Tahoe Resources (TAHO) : Guatemalan Supreme Court reinstates Escobal license

Tahoe Resources (TAHO) reported that the Guatemalan Supreme Court issued a decision that reinstates the Escobal mining license of Tahoe's Guatemalan subsidiary, Minera San Rafael. This decision reverses the Supreme Court's preliminary decision to suspend MSR's license in connection with an action brought by the anti-mining organization, CALAS, against Guatemala's Ministry of Energy and Mines

=Tahoe Resources (TAHO) plunges as court upholds mine suspension

Tahoe Resources (TAHO) reported that it has learned through unconfirmed sources that the Guatemalan Constitutional Court issued a decision upholding the lower court's preliminary decision to provisionally suspend the mining license of Tahoe's Guatemalan subsidiary, Minera San Rafael. This decision responds to an appeal filed by Minera San Rafael in an action brought by the anti-mining organization, CALAS, against Guatemala's Ministry of Energy and Mines in May.

=Tahoe Resources (TAHO) reported earnings on Wed 9 Aug 2017 (b/o)

Tahoe Resources beats by $0.02, beats on revs; halts dividend; FY17 gold production expected to meet targets

• Reports Q2 (Jun) earnings of $0.11 per share, $0.02 better than the Capital IQ Consensus of $0.09; revenues fell 8.2% year/year to $209.6 mln vs the $207.39 mln Capital IQ Consensus.
• Cessation of dividend --
  • The Company announced the cessation of the dividend, beginning August 8, due to the ruling of the Guatemalan court to provisionally suspend the Escobal mining license.
  • The dividend cessation is intended to protect the health of the Company's balance sheet and ensure the Company has the financial flexibility during the temporary suspension of Escobal operations.
  • The cessation of the dividend will conserve ~$65 million cash annually at current dividend reinvestment program enrollment rates.
• Suspension of 2017 and multi-year guidance -- The Company has suspended previously issued 2017 and multi-year company-wide guidance given the uncertainty of timing of various court decisions related to the Escobal license.
  • Gold production and total cash costs are expected to meet targets of 375,000 to 425,000 ounces of gold and total cash costs of $700 to $750 at operations in Canada and Peru in 2017.
  • Co will issue updated guidance when we have clarity on the status of the Escobal license in Guatemala.

=Tahoe Resources (TAHO): Guatemala suspends its license to operate

• Guatemala's Supreme Court suspended the license on the company's flagship Escobal silver mine.
• The company said it could no longer confirm its previously issued 2017 outlook. Several banks cut their target prices and recommendations on the stock.