Bunker Hill Mining (CSE: BNKR) says it is ready to recommence the Bunker Hill silver mine project in Idaho after closing a US$67 million deal first announced on May 23.
The deal with Sprott Private Resource Streaming and Royalty includes a US$46 million multi-metals stream and a US$21 million debt facility. On Monday Bunker Hill announced it had closed the deal and that US$46, minus US$5 million to cover bridge loans, had already been advanced to the company.
Bunker Hill chose not to draw on the debt facility until other financing opportunities are considered.
In a press release, Bunker Hill CEO Sam Ash said that closing the deal allows for “full-scale recommencement of project activities.”
The Bunker Hill mine project is in Idaho’s historic Coeur d’Alene mining district and produced 42.77 million tons at an average grade of 8.43% lead, 120.62 g/t silver (3.52 oz. silver per ton) and 4.52% zinc between 1856 and 1991.
The mine remained in care and maintenance until 2020 when new management took over the project. According to Bunker Hill’s website, “the historical Bunker Hill mine has the potential to be re-started as a high-grade silver mine [with] a low-cost, long life, sustainable operation.”
For more information on the project, visit www.BunkerHillMining.com.
April 24, 2024
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