Eduardo Elsztain joins Frank Giustra as strategic investor in Argenta Silver
Argenta Silver Corp. [AGAG-TSXV] has announced a strategic investment in the company by prominent Argentine businessman Eduardo Elsztain. Through IFIS, part of the Elsztain Group, he will acquire 25 million shares of Argenta through a private placement of share at 20 cents per share for a total investment of $5.0 million.
Argenta shares advanced on the news, rising 2.8% or $0.007 to 27.8 cents, Friday. The shares trade in a 52-week range of 46.5 cents and 14 cents.
Argenta owns 100% of the El Quevar Project, located in Salta, Argentina. The project hosts an indicated resource of 45.3 million ounces of silver at a grade of 482 g/t silver and an inferred resource of 4.1 million ounces of 417 g/t silver, making it one of Argentina’s top three undeveloped silver deposits. Extensively explored between 2008 and 2013 by its previous owner, the project saw limited exploration in recent years. Argenta Silver acquired El Quevar in late 2024 and is now focused on unlocking its full value. Elsztain’s investment underscores Argenta’s commitment to advancing El Quevar responsibly and strategically, further strengthening its position in the silver exploration sector.
Elsztain is recognized as one of Argentina’s most influential business leaders, having one of the largest real assets business conglomerates in Argentina spanning industries, including real estate, agriculture, finance and mining. Most notably, he serves as Chairman and CEO of IRSA [IRS-NYSE]. Argentina’s largest real estate company and CRESUD [CRESY-NASDAQ], a major agribusiness firm operating across South America. He also chairs Banco Hipotecario [BHIP-BASE], one of Argentina’s foremost mortgage banks. It has played a key role in numerous high profile investment and development projects.
“It is an honour to welcome Eduardo Elsztain as a significant shareholder and strategic partner in Argenta,’’ said Joaquin Marias, Director and VP of Exploration and Development at Argenta. “For decades, he has been a cornerstone of Argentina’s business community, building a vast corporation from the ground up and demonstrating an extraordinary ability to recognize hidden value at early stages,’’ he said. “Having both Eduardo Elsztain and [Canadian mining investor] Frank Giustra as major shareholders is a significant milestone for Argenta, underscoring the strength of our vision and the exceptional potential of El Quevar. Their involvement marks a major milestone for the company, further positioning us for long term success in the silver sector.’’
“I am excited to join Argenta as a shareholder,’’ Elsztain said. “The company’s commitment to responsible mining and its strategic focus on high-potential silver assets align with our historical visions for development in the region,’’ he said. “Silver is playing an increasingly vital role in the global economy and I look forward to supporting both Argenta’s growth with this exceptional project and the country’s outstanding future.’’