Sierra Madre Gold & Silver Ltd. (TSE:SM) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Sierra Madre Gold & Silver Ltd. has secured a US$5 million loan from First Majestic Silver Corp. to finalize the upgrades and preparations necessary for the potential operational restart of the fully permitted La Guitarra Silver and Gold mine in Mexico. The two-year loan, with a 15% annual interest rate, will fund critical equipment purchases, processing facility upgrades, and staffing arrangements. The company’s subsidiary that owns La Guitarra has been pledged as security for the loan.
For further insights into TSE:SM stock, check out TipRanks’ Stock Analysis page.