Sierra Madre Gold & Silver Ltd. (TSE:SM) has released an update.
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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.
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