The Prospector News

Guanajuato Silver Repays OCIM Loan In Full

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Guanajuato Silver Repays OCIM Loan In Full

 

 

 

 

 

Guanajuato Silver Company Ltd. (TSX-V:GSVR) (OTCQX:GSVRF), a growing gold and silver producer with operations in Mexico, is pleased to announce the complete repayment of its US$7,500,000 silver and gold pre-payment facility to Swiss-based precious metals trading firm, OCIM Metals & Mining S.A. (See previous Guanajuato Silver news release dated May 9, 2022 – “GSilver Draws US$7.5M Silver/Gold Pre-Payment Facility from OCIM“).

 

James Anderson, Chairman and CEO, said, “Our rapid transition to producer status was made possible by OCIM; they provided the initial financing for our acquisition of the El Cubo mine and milling facility. In OCIM, we have been very fortunate to have had a funding partner steadfast in their support of our goals and strategic initiatives during the early days of the Company’s emergence into a significant producer of silver and gold in Mexico. The full repayment of this loan frees up significant monthly cashflows, thereby providing Guanajuato Silver with enhanced financial flexibility and a strengthened working capital position as we continue to advance production at our four producing silver mines in Mexico.”

 

Laurent Mathiot, Chairman and CEO of OCIM, added, “Supporting junior mining companies to reach a new status and increase production is exactly where OCIM can add significant value through our bespoke funding solutions. James Anderson, and his Guanajuato Silver team, have always exhibited the highest level of professionalism, best practices, and business acumen. It has been a pleasure to be associated with Guanajuato Silver and we wish the Company continued future success.”

 

Guanajuato Silver now has a single loan outstanding – the gold loan credit facility with Ocean Partners UK Ltd. (see GSilver news release dated February 29, 2024). The Expanded Facility is repayable in equal fixed monthly installments of gold totalling approximately 338 troy ounces per month for a period of 30 months which commenced in June 2024. Notably, Guanajuato Silver averaged monthly production of over 1600 ounces of gold and over 137,000 ounces of silver during the first half of 2024.

 

About Guanajuato Silver

 

GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The Company produces silver and gold concentrates from the El Cubo Mine, Valenciana Mines Complex, and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history. Additionally, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico.

 

Posted September 19, 2024

Share this news article

MORE or "UNCATEGORIZED"


Coeur Announces Acquisition of SilverCrest to Create Leading Global Silver Company

With the addition of the Las Chispas mine – one of the world... READ MORE

October 4, 2024

EMP METALS CLOSES PRIVATE PLACEMENT FINANCING OF $1.28 MILLION INVESTMENT BY TEMBO

EMP Metals Corp. (CSE: EMPS) (OTCQB: EMPPF) is pleased to announc... READ MORE

October 4, 2024

SANTACRUZ ANNOUNCES DEFINITIVE AGREEMENTS AMENDING TERMS OF SALE OF GLENCORE'S BOLIVIAN MINING ASSETS

Santacruz Silver Mining Ltd. (TSX-V:SCZ)  is pleased to announc... READ MORE

October 4, 2024

Metal Energy Announces Acquisition of Highland Valley Copper Project

Metal Energy Corp. (TSX-V: MERG) (OTCQB: MEEEF) is pleased to an... READ MORE

October 4, 2024

Outcrop Silver Closes $5 Million Private Placement Financing with Eric Sprott

Outcrop Silver & Gold Corporation (TSX-V: OCG) (OTCQX: OCGSF)... READ MORE

October 4, 2024

Copyright 2024 The Prospector News