PPX Mining (TSE:PPX) has released an update.
PPX Mining Corp. has signed a letter of intent for a $2.5 million silver royalty financing with Silver Crown Royalties Inc. to fund the construction of their new processing plant in Peru. The agreement stipulates a 15% silver royalty with a five-year term or until 250,000 ounces of silver are delivered, which can be doubled if PPX opts to deliver more silver in exchange for additional funding. This deal, along with previously secured funds, completes the financing required for PPX’s Igor Project, promising significant growth potential.
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