Vizsla confirms two more deaths in Mexico kidnappings

Vizsla Silver (TSX, NYSE: VZLA) said Thursday two more of the 10 workers taken from its project site in Concordia, Mexico, have been confirmed dead, lifting the death toll to seven. Shares fell.

“Our hearts are with the families who have lost loved ones and with those who continue to wait for answers,” CEO Michael Konnert said in a news release. The company remained focused on helping families and supporting efforts to locate the missing, he said.

The abducted workers were taken in late January in Concordia, a municipality in Mexico’s Sinaloa state about 50 km east of Mazatlán. Authorities have said rival cartel factions have driven a surge in violence in the region, complicating security for businesses and residents.

Vizsla shares fell as much as 4.6%, or 26¢, in Toronto on Thursday to an intraday low of $5.39, before recovering to $5.51 in afternoon trading. The company has a market capitalization of about $1.9 billion (US$1.4 billion).

Mexican authorities are continuing search efforts and the wider investigation is proceeding with Vizsla’s support.  The company said it’s reviewing and strengthening its security protocols in coordination with local authorities.