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Silver X Mining Secures a US$2M Loan Facility with Trafigura for the Production of Additional Copper Concentrates
VANCOUVER, BC / ACCESS Newswire / June 24, 2025 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXP...
About this update from Silver X Mining Corp
[{"type":"text","content":"Silver X Mining Secures a US$2M Loan Facility with Trafigura for the Production of Additional Copper ConcentratesVANCOUVER, BC / ACCESS Newswire / June 24, 2025 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX) (\"Silver X\" or the \"Company\") is pleased to announce it has secured a US$2,000,000 prepayment facility (the \"Facility\") and copper offtake agreement (the \"Offtake\") for its Nueva Recuperada project with Trafigura PTE Ltd. (\"Trafigura\").\"The execution of this expanded offtake agreement with Trafigura marks a key milestone for Silver X, positioning us to unlock meaningful value from our growing production profile. This transaction reflects Trafigura's confidence in our ability to deliver as a reliable and scalable producer in Peru,\" stated Jose Garcia, CEO of Silver X.\"For our investors, this agreement not only strengthens our balance sheet through access to flexible capital but also supports the acceleration of development at our project, particularly on mine development and the construction of a third flotation circuit. We continue to work on financing our imminent growth, focusing on non-dilutive funding to avoid or minimize shareholders dilution going forward. We anticipate additional positive news soon.\"Transaction DetailsThe US$2,000,000 Facility will be drawn in tranches. The Facility carries an interest rate of SOFR plus 6%, with an expected repayment term of 20 months from the date of initial drawdown. As part of the financing terms, Silver X will issue 2.5M warrants, exercisable for a period of up to 25-months at an exercise price representing a 25% premium to the 20-day volume-weighted average price (VWAP) on the TSX.V as of the signing date.Under the terms of the expanded Offtake agreement, Silver X will sell 100% of the copper concentrate produced at the Nueva Recuperada project to Trafigura from the start of copper production through April 2029. This new agreement builds on the existing offtake arrangement for Nueva Recuperada and reflects the continued partnership between the two companies. Proceeds will be used for the implementation of a third flotation circuit at the Recuperada plant to produce copper concentrates with silver and gold contents, as well as for mine development and working capital.Completion of the transaction is subject to, among other things, execution of definitive docu...