News

Pan American Silver (TSX:PAAS,NYSE:PAAS) has entered into a definitive agreement to acquire MAG Silver (TSX:MAG,NYSEAMERICAN:MAG) in a transaction valued at approximately US$2.1 billion, further cementing its position as a top-tier silver producer in the Americas.

The acquisition will bring MAG’s 44 percent stake in the high-grade Juanicipio silver and gold mine in Mexico into Pan American’s portfolio, expanding the company’s exposure to low-cost, high-margin silver production.

Under the deal, MAG shareholders will receive a mix of US$500 million in cash and 0.755 Pan American shares for each MAG share held — a 21 percent premium based on closing prices as of May 9.

Upon the deal’s closing, expected later this year pending regulatory approvals, MAG shareholders will own roughly 14 percent of Pan American on a fully diluted basis.

Pan American CEO Michael Steinmann called the deal “transformational” in the company’s Sunday (May 11) press release, citing Juanicipio’s strong production profile and future exploration potential.

“Our acquisition of MAG brings into Pan American’s portfolio one of the best silver mines in the world,” he said.

“Juanicipio is a large-scale, high-grade, low-cost silver mine that will meaningfully increase Pan American’s exposure to high margin silver ounces. Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG’s Deer Trail and Larder properties,” Steinmann continued.

MAG President George Paspalas echoed this sentiment, noting that the transaction delivers immediate value and long-term upside through continued exposure to Juanicipio within Pan American’s diversified asset base.

Juanicipio, located in Mexico’s prolific Zacatecas district, processed 1.33 million metric tons of ore in 2024, producing 18.6 million ounces of silver and 39,029 ounces of gold — up over 10 percent from 2023.

Operated by Fresnillo (LSE:FRES,OTC Pink:FNLPF), which owns the remaining 56 percent stake, the mine posted an average silver head grade of 468 grams per metric ton and is set to deliver up to 16.7 million ounces of silver in 2025.

Pan American’s 2024 output totaled 21.1 million ounces of silver and 892,000 ounces of gold, in line with guidance.

The company has operations across seven countries, with its key assets including the La Colorada mine in Mexico and the Jacobina gold mine in Brazil. Pan American ended last year with US $887.3 million in cash and short-term investments, bolstered by its recent divestment of the La Arena mine in Peru.

News of the deal sent shares for both companies higher in pre-trading hours on Monday (May 12).

As of 9:13 a.m EST, Pan American shares were up 6.5 percent from the previous day to trade for US$27.21, while MAG shares had seen a 6.07 percent uptick over the same period, trading for C$23.58.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Missourians may soon be able to pay their taxes — and possibly their grocery bills — with gold and silver.

The Missouri General Assembly has passed a Republican-backed amendment to a wide-ranging finance bill that recognizes precious metals as legal tender. It would require state government entities to accept electronic forms of gold and silver — known as “electronic specie currency” — for public debts, including taxes.

The bill, now awaiting action by Republican Governor Mike Kehoe, has sparked both curiosity and concern. It stops short of mandating that private businesses accept physical or digital precious metals, but allows them to do so voluntarily.

“The goal is about restoring economic and political freedom back to everyday Missourians,” Representative Bill Hardwick, a Dixon Republican and a primary sponsor of the legislation, told the Kansas City Star. He has pushed versions of the so-called “Constitutional Money Act” for several years alongside members of the Missouri Freedom Caucus.

If signed into law, Missouri would become one of the few states to recognize gold and silver as legal tender — echoing a similar law passed by Utah in 2011 and proposals floated in other Republican-led states like Florida and Louisiana.

Supporters say the measure offers an alternative to the US dollar, which they argue is being devalued by inflation and poor federal monetary policy. However, the bill came as a surprise to some in the Capitol — it drew limited discussion on the House floor, and its full text was unavailable more than 24 hours after its passage, raising implementation questions.

State Representative Kemp Strickler, a Democrat from Lee’s Summit, expressed skepticism about the precious metals provision, though he ultimately voted “present” due to supporting other parts of the broader financial legislation.

“Not a fan of that part of it,” Strickler said. “Assuming it gets signed, we’re in the ‘how do we implement’ stage.”

He added that he expects most private businesses will likely decline to accept gold or silver as payment, given the complexities involved. “I would think this would be a huge challenge for private businesses,” he added.

Implementation may indeed be the most complicated part. The amendment calls on the Missouri Department of Revenue to develop rules and infrastructure for accepting electronic specie by August, when the bill would take effect.

Hardwick suggested that emerging payment technologies could facilitate transactions in gold or silver through digital and paper-based equivalents. But critics say the idea remains largely symbolic and potentially unworkable.

“So when I go to a gas station and buy a Coke, a 20 ounce Coke, and I’d say, you know, here’s my gold … Are they gonna give me back money in gold?” former Senate Minority Leader John Rizzo, a Democrat from Independence, said in 2023.

Business groups have been more measured in their responses.

The Missouri Chamber of Commerce and Industry opposed earlier versions of the bill that would have forced private businesses to accept gold and silver. But the final version was softened to remove that requirement.

The bill’s momentum comes amid a broader push by conservative lawmakers across the country to reassert state-level authority over monetary policy and hedge against federal economic policies they view as reckless.

Earlier this year, Utah legislators passed a bill to create a precious metals-backed electronic payment system, although Republican Governor Spencer Cox later vetoed it. In Florida, similar legislation has gained traction, with Governor Ron DeSantis voicing support. Louisiana lawmakers have also introduced, but not passed, related bills.

Whether the legislation becomes law now rests with Kehoe, who has not indicated how he will proceed. “The bill will receive a thorough review by Governor Kehoe and his team,” said spokesperson Gabby Picard in an email.

Though some proponents remain optimistic that alternative currency systems can gain traction, the real test will come in how — and whether — the state implements the law in a way that is practical and secure.

For now, gold and silver may be legal tender in theory; however, whether that translates into everyday transactions at gas stations, grocery stores or tax offices remains to be seen.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

As white smoke billowed from the Sistine Chapel’s chimney and the bells of St. Peter’s Basilica rang out, Robert Francis Prevost, now known as Pope Leo XIV, was casting history in gold.

The newly elected pontiff is not only the first American pope, but also the latest successor in a long line of men robed in ancient symbols and tradition — as well as precious metals.

The Vatican, for all its spiritual power and theological doctrine, is also quite literally a treasury.

From the moment a pope is elected, he is adorned with regalia that is steeped in centuries of meaning, and often crafted from some of the world’s most valuable resources.

This article explores the material makeup of the modern papacy — what it’s made of, and what it means.

The Fisherman’s Ring

At the center of every pontificate is a single golden symbol: the Fisherman’s Ring.

A custom-made signet bearing the image of St. Peter fishing — a nod to the Pope’s spiritual ancestry — the aptly named Fisherman’s Ring is a badge of papal authority. Historically, it also functioned as a seal for papal documents, though its use for that purpose was discontinued in 1842.

Gold is the traditional material, but recent pontificates have brought slight variations. Pope Benedict XVI’s ring was solid gold; Pope Francis chose gold-plated silver — a subtle nod to austerity.

The composition of Pope Leo XIV’s ring has not yet been confirmed.

Whatever its exact alloy, the symbolism remains rich. The ring is destroyed upon a pope’s death or resignation — shattered with a ceremonial hammer to prevent forgery, a powerful image of the transience of power.

The tiara’s glittering past

While Pope Leo XIV, like his recent predecessors, is unlikely to don the papal tiara — a triple-crowned headpiece entrenched in medieval grandeur — it remains one of the most opulent artifacts in Vatican history.

Traditionally crafted from silver and often adorned with diamonds, emeralds, sapphires and rubies, the tiara’s structure symbolized the pope’s threefold authority: to teach, to govern and to sanctify.

One of the most extravagant examples belonged to Pope Paul II in the 1460s; he wore a tiara encrusted with gems worth over 200,000 florins — more than US$22 million in today’s dollars. Another tiara, worn by Pope Julius II in 1503, was valued at 200,000 ducats (each ducat containing 3.5 grams of pure gold). These tiaras, now museum pieces, remain potent reminders of the Church’s historical wealth and the metals that shaped its regalia.

The modern papacy, however, has moved away from such ostentation.

Pope Paul VI was the last to wear the tiara. In 1963, just months after his coronation, he donated his own gold- and jewel-encrusted tiara to benefit the poor — a decision echoed by his successors.

The pectoral cross

Another item of note in the papal wardrobe is the pectoral cross, typically suspended from a gold or silver cord and worn over the chest. This cross often contains a relic and represents the pope’s role as shepherd of the Catholic Church, as well as a constant reminder of his burden: to bear the sins of humanity as Christ did.

Recent popes have had pectoral crosses made of solid silver or gold, often customized with inscriptions or sacred imagery. Pope Francis, for example, wore a simple silver pectoral cross featuring the image of the Good Shepherd.

The gold-embroidered red stole

Worn across the shoulders, the papal stole is not metallic, but is trimmed with elaborate gold embroidery — often hand-stitched using fine gold thread, sometimes even containing 24 karat accents.

The red stole signifies the pope’s priestly consecration and his spiritual role as a “good shepherd,” bearing the yoke of Christ. The golden accents of the stole reflect centuries of textile and metalcraft traditions.

Keys to the kingdom

Perhaps the most iconic symbol of the papacy is the crossed keys — one gold, one silver — typically shown bound by a red cord. These appear on everything from the Vatican’s flag to the papal seal and the mosaics embedded in the marble floors of St. Peter’s Basilica. The gold key represents the spiritual authority of heaven; the silver key, the temporal authority of the church on Earth. The downward-facing grips symbolize that both are wielded by the pope himself.

The materials — silver and gold — aren’t incidental; they signal divine access and earthly power alike.

The miter

Though no longer crowned with tiaras or enthroned on palanquins, modern popes still wear the miter, a ceremonial headdress. Today’s miters are typically made of silk, but many are embroidered with gold or silver threads, and some include small gemstone inlays.

Each miter is a handcrafted object, often given as a gift by a nation, religious order or diocese.

A papacy of substance and symbols

As the chants of, “Viva il papa!” echo across St. Peter’s Square, and as Pope Leo XIV blesses the faithful, he does so not just with words — but with a legacy etched in precious metals.

In the end, it’s a reminder that even in matters of the soul, the Earth’s treasures still shine.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is excited to announce the date and steps to effect the previously announced spin-out of its subsidiary, Blue Jay Gold Corp. (“Blue Jay”), on May 22, 2025. Shareholders of Riverside as of 12:01 a.m. on such date (the “Effective Time”) will be entitled to receive one (1) new common share of Riverside (the “New Riverside Shares”) and one (1) common share of Blue Jay (the “Blue Jay Spinout Shares”) for every five (5) common shares of Riverside (“Riverside Shares”) held at the Effective Time. To receive Blue Jay Spinout Shares, investors must purchase Riverside Shares no later than the close of trading on May 21, 2025. Shareholders who purchase Riverside Shares on or after May 22, 2025, will not be entitled to participate in the share distribution. Blue Jay is expected to make an application to list its shares on the TSXV. This share reorganization follows a structure similar to Riverside’s previous transaction with Capitan Silver. In that prior case, the shares saw positive appreciation, and both Riverside and Capitan advanced their respective business strategies.

“We are excited to move forward with the planned next step in Blue Jay Gold Corp.’s growth, with the spin-out of the Blue Jay shares held by Riverside going 100% to existing shareholders, and we appreciate the continued support of our shareholders as we deliver this value directly to them,” stated John-Mark Staude, President and CEO of Riverside Resources. “This corporate action is consistent with our project generator business model, which we have successfully executed for over 18 years. It allows Riverside to maintain upside exposure through asset royalties while enabling Blue Jay to pursue its own focused growth strategy and existing shareholders to receive the benefits from the years of work the Company has put in building this Ontario asset portfolio. We believe this spin-out presents an exciting new opportunity for investors as Blue Jay moves toward becoming a publicly listed exploration company. I remain fully invested, holding shares, and am enthusiastic about the future of both Blue Jay and Riverside.”

“Blue Jay will initially remain as a private reporting company as it prepares for its public listing, offering Blue Jay and Riverside shareholders a rare early-stage position typically reserved for pre-IPO investors. This structure allows for the alignment of strategic milestones and investor visibility ahead of listing on the TSX Venture Exchange,” stated CEO of Blue Jay, Geordie Mark. “Having taken on the helm and now leading Blue Jay is a great opportunity as the portfolio is strong, team keen and we look forward to building a great Canadian gold company starting from this initial pre-listing state with the capital we have already raised and moving ahead with the Riverside shareholder base.”

For more context on the strategic rationale and shareholder benefits of the Blue Jay Gold Corp. spin-out, we invite investors to watch a recent video interview featuring Geordie Mark and Riverside Resources CEO John-Mark Staude. In the discussion, they outline the structure of the transaction, the vision for Blue Jay Gold as a standalone exploration company, and how Riverside shareholders will continue to benefit through retained royalties and equity exposure. The full video is available here: https://youtu.be/PrYeRon0cj0

Riverside and Blue Jay consider it in their respective best interests, and in the interests of their shareholders and other stakeholders, to proceed with effecting the Arrangement to enable each company to pursue their respective and distinct growth strategies as separate entities.. Blue Jay is actively engaged with the TSX Venture Exchange to complete the listing of the Blue Jay Shares in the second half of 2025, subject to meeting the TSXV’s initial listing requirements and aligning with the Company’s ongoing strategic and accretive growth initiatives.

The 14,956,693 Blue Jay Spinout Shares currently held by Riverside will be distributed to Riverside’s shareholders in connection with Riverside’s previously announced plan of arrangement under section 288 of the Business Corporation Act (British Columbia) (the “Arrangement”) The Arrangement will be effected pursuant to the arrangement agreement dated January 27, 2025 between Blue Jay and Riverside (the “Arrangement Agreement”), and approved by shareholders at the annual general and special shareholders meeting held March 31, 2025.

At the effective time of the Arrangement on May 22, 2025, each existing Riverside Share will be exchanged for one new New Riverside Share and 1/5th of a Blue Jay Spinout Share, subject to adjustment in accordance with the Arrangement Agreement. Holders of Riverside options are entitled to receive the same number of New Riverside Shares and 1/5th of that number of Blue Jay Shares. On completion of the Arrangement, Riverside shareholders and holders of Riverside options will maintain their interest in Riverside and will obtain a proportionate interest in Blue Jay. There are no share warrants in either Riverside or Blue Jay.

Following the completion of the Arrangement, Blue Jay will be a reporting issuer in Alberta, British Columbia and Ontario and will meet and comply with all of its timely and continuous disclosure requirements, as required under applicable Canadian securities laws. Blue Jay’s public disclosure documents will be made available and filed on Blue Jay’s profile on SEDAR+ at www.sedarplus.ca following the Arrangement.

Riverside will retain a 2% net smelter return (NSR) royalty on each of Blue Jay’s three properties, ensuring continued exposure to the success and upside of these assets.

How to Receive the New Riverside Shares and Blue Jay Shares

To receive the New Riverside Shares and the Blue Jay Shares to which they are entitled, registered shareholders of Riverside who hold their Riverside common shares (the “Riverside Shares”) in certificated form are required to submit a Letter of Transmittal (which is available on the Company’s SEDAR+ profile at www.sedarplus.ca to Endeavor Trust Corporation (“Endeavor”), as depositary, to exchange their Riverside Shares for certificates or direct registration system (“DRS”) statements representing the New Riverside Shares and the Blue Jay Shares to which they are entitled under the Arrangement. Registered shareholders who hold their Riverside Shares through DRS statements will automatically receive DRS statements for the New Riverside Shares and Blue Jay Shares at the registered address maintained by Endeavor and are not required to submit a Letter of Transmittal to Endeavor.

Beneficial shareholders of Riverside who hold their Riverside Shares through an intermediary, broker or other agent will automatically receive their New Riverside Shares and Blue Jay Spinout Shares to which they are entitled pursuant to the Arrangement and should contact such intermediary, broker or other agent with questions on their New Riverside Shares and Blue Jay Shares.

The Arrangement Agreement and additional details about the Arrangement are included in the Company’s management information circular dated February 18, 2025, copies of which are each available on Riverside’s SEDAR+ profile at www.sedarplus.ca and on the Company’s website at www.rivres.com.

About Blue Jay Gold Corp

Blue Jay Gold Corp. is a Canadian gold exploration company focused on high-grade discovery in Ontario’s prolific Beardmore-Geraldton and Wawa Greenstone Belts, regions known for hosting numerous past-producing and active gold mines. The Company’s flagship asset, the Pichette Project, features extensive banded iron formation (BIF) trends and high-grade historical gold intercepts, offering near-surface discovery potential. With three strategically located projects and a leadership team experienced in geology and capital markets, Blue Jay Gold is advancing a disciplined, modern exploration strategy in one of Canada’s most prospective and mining-friendly jurisdictions.

About Riverside Resources Inc.

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

For additional information contact:

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, that the Arrangement may not occur within the timelines contemplated or at all, that the listing of the Blue Jays on the TSXV is subject to the approval of the TSXV which may not be obtained on terms acceptable to Blue Jay or at all, the ability of Blue Jay to raise sufficient capital to pursue its growth strategy and meet the listing requirements of the TSXV and , the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source

Glass Imaging, a company harnessing the power of artificial intelligence to revolutionize digital image quality, raised $20 million in funding. Global software investor insight Partners led the round. With the funding, Glass Imaging will continue to refine and implement their proprietary GlassAI technologies across a wide range of camera platforms – from smartphones to drones to wearables and […]

Aarki has launched Encore, a next-generation machine learning platform built to deliver full-funnel growth for mobile marketers in a privacy-first landscape. Designed for smarter user acquisition and stronger retention, Encore combines dynamic targeting, continuous model evolution, and SKAN 4-ready optimization.  Encore is the industry’s only unified platform with a privacy-first framework that supports both User […]