The Prospector News

PPX Closes First Tranche of Silver Royalty Agreement With Silver Crown Royalties

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

PPX Closes First Tranche of Silver Royalty Agreement With Silver Crown Royalties

 

 

 

 

 

PPX Mining Corp. (TSX-V: PPX) (BVL: PPX) is pleased to announce that it has closed the first tranche of its previously announced silver royalty with Silver Crown Royalties Inc. (CBOE:SCRI) (OTCQX:SLCRF) (FRA:QS0) pursuant to the silver royalty agreement dated December 13, 2024 between the Company and SCR, resulting in gross proceeds to the Company of US$1,000,000. Proceeds will support the Company’s ongoing construction of the CIL and Flotation plant at the Company’s Igor project, located in La Libertad, Peru.

 

John Thomas, CEO commented, “we are pleased to close this transaction with Silver Crown Royalties. The funding received and the second tranche coming within six months will support our ongoing construction activities at site.”

 

Upon the closing of the first tranche, SCR was granted a Silver Royalty for 6% of the cash equivalent of silver produced from PPX’ Igor 4 mining concession. The Royalty Agreement contemplates the closing of a second tranche of US$1,470,000, to be paid within six months, which will automatically increase the Silver Royalty to 15%. If the second tranche is not completed within six months of Closing, PPX has the right to repurchase the Silver Royalty for US$1,000,000 (less any royalty payments made to date).

 

Further details regarding the Silver Royalty and the Royalty Agreement capbe found in the Company’s press release issued December 16, 2024 announcing the Royalty Agreement. A copy of the Royalty Agreement is available on the Company’s SEDAR+ profile at www.sedarplus.ca.

 

About PPX Mining Corp:

 

PPX Mining Corp. is a Canadian-based mining company with assets in northern Peru. Igor, the Company’s 100%-owned flagship gold and silver project, is located in the prolific Northern Peru gold belt in eastern La Libertad Department.

 

Posted February 7, 2025

Share this news article

MORE or "UNCATEGORIZED"


1911 Gold Closes C$13.2 Million “Bought Deal” Life Offering Including Increased Investment by Eric Sprott

1911 Gold Corporation (TSX-V: AUMB) (FRA: 2KY) is pleased to anno... READ MORE

July 17, 2025

Maritime Resources Announces Closing of $11.5 Million Brokered Private Placement Financing

Maritime Resources Corp. (TSX-V: MAE) is pleased to announce the ... READ MORE

July 17, 2025

Sitka Intersects 47.6 Metres of 2.09 g/t Gold, Including 8.0 Metres of 5.07 g/t Gold near Surface at the Saddle Zone at Its RC Gold Project, Yukon

Initial follow-up drilling at Saddle Zone identifies intersections of ne... READ MORE

July 17, 2025

Focus Graphite Ships Battery-Grade Samples to Prospective Offtake Partners in the United States

Includes battery-grade spec anode material and a high-performance... READ MORE

July 17, 2025

NexMetals Receives US$150 Million Letter of Interest from the Export-Import Bank of the United States for Its Critical Metals Projects in Botswana

NexMetals Mining Corp. (TSX-V: NEXM) (NASDAQ: NEXM) is pleased to... READ MORE

July 17, 2025

Copyright 2025 The Prospector News