Bunker Hill Mining Secures Fifth Tranche of Silver Loan Funding
KELLOG, Idaho, and VANCOUVER, British Columbia – Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSX-V: BNKR; OTCQB: BHLL) recently announced the successful closure of the fifth tranche of its silver loan with Monetary Metals Bond III LLC. This tranche, worth US$1,478,847, corresponds to approximately 50,198 ounces of silver. This financing is crucial for furthering development at the Bunker Hill Mine.
Sam Ash, the President and CEO of Bunker Hill, expressed enthusiasm regarding this progress, stating, “While many in the market enjoy their holiday break, Bunker Hill continues to make strides with strategic financing, which is vital for advancing our projects efficiently alongside corporate financing matters.”
Details of the Silver Loan Tranche
The Fifth Tranche builds on a series of loans provided by Monetary Metals, with previous tranches aimed at bolstering the restart and ongoing development of the Bunker Hill Mine. Since the inception of this financing arrangement, the Company has closed several distinct tranches. The first tranche, finalized earlier this year, was valued at US$16,422,039, reflecting 609,805 ounces of silver. Following this, the second tranche was completed at US$6,369,000, equal to 200,000 ounces, and the third tranche brought in an additional US$6,321,112, equivalent to 198,777 ounces of silver. Each of these tranches has been instrumental in progressing the Company’s operational capabilities.
Future Developments and Infrastructure Upgrades
As a part of the current initiatives, substantial progress can be observed in project updates. As of now, the procurement process is reported to be 98% complete, with the aim to commence operations by mid-2025. Concurrent refurbishments on the underground access ramp between various levels are underway, along with extensive work on the installation of mezzanine floors in the processing plant. The integration of conveyor systems and the setup of essential piping and electrical infrastructure are also in progress.
Photos highlight the ongoing installations, showcasing the operational readiness that Bunker Hill is striving to achieve. This substantial infrastructure development not only positions Bunker Hill for an efficient restart but also optimizes their capability to meet future demands in the mining sector.
Warrant Issuances and Strategic Financing Initiatives
In conjunction with the Fifth Tranche, Bunker Hill will issue a series of bonus share purchase warrants, subject to TSX Venture Exchange approval. A total of 100,397 warrants will be provided, each allowing the holder to acquire common stock at C$0.15 per share. This strategic financial maneuver serves to solidify investor confidence and ensure a sustainable funding pathway as the Company prepares for future expansions and operational milestones.
About Bunker Hill Mining Corp.
Bunker Hill Mining Corp. is focused on the sustainable redevelopment of its mining assets, including the historic Bunker Hill Mine. The Company’s leadership is dedicated to consolidating mining resources in North America, aiming to create a robust portfolio that maximizes value across operations. More information on Bunker Hill can be found on their website at www.bunkerhillmining.com, as well as in various regulatory databases.
Contact Information
For further details about Bunker Hill Mining Corp. or their ongoing projects, individuals can reach out to:
Brenda Dayton
Vice President, Investor Relations
T: 604.417.7952
E: brenda.dayton@bunkerhillmining.com
Frequently Asked Questions
What is the significance of the Fifth Tranche?
The Fifth Tranche provides essential funding that supports the ongoing development and restart of the Bunker Hill Mine, reinforcing the Company’s financial foundation.
How many silver loan tranches has Bunker Hill completed?
Bunker Hill has successfully closed five tranches of silver loans, aiding their financing initiatives effectively over time.
What projects are being funded with the silver loans?
The loans are primarily allocated towards infrastructure upgrades and preparations for the planned restart of mining operations at the Bunker Hill Mine.
What are the expected outcomes of the current infrastructure developments?
These developments are aimed at achieving operational efficiency and readiness for the anticipated restart of the Bunker Hill Mine in mid-2025.
How can investors learn more about Bunker Hill Mining Corp.?
Investors can visit their official website or contact their VP of Investor Relations for more information and updates on the Company’s activities.
