on Silver X Mining Corp. (isin : CA8283411079)
Silver X Mining Secures $2M Loan from Trafigura for Copper Production
Silver X Mining Corp. has announced a $2 million loan facility and copper offtake agreement with Trafigura PTE Ltd. for its Nueva Recuperada project. This marks a significant milestone for Silver X, enhancing its production capabilities in Peru. The agreement will support mine development and the construction of a third flotation circuit.
The loan will be drawn in tranches, with an interest rate of SOFR plus 6% over a 20-month term. Silver X will issue 2.5 million warrants as part of the financing. Under the expanded offtake deal, Trafigura will purchase 100% of the copper concentrate from the Nueva Recuperada project through April 2029.
The transaction's completion depends on definitive documentation and TSX Venture Exchange approval. Funds will aid the development of a flotation circuit and mine operations, promoting Silver X's growth strategy.
R. E.
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