Bunker Hill Mining Receives Fourth Tranche from Sprott Standby Facility
Bunker Hill Mining (OTCQB: BHLL) has received the final US$6 million tranche from Sprott Private Resource Streaming and Royalty Corp's Standby Facility, completing the total US$21 million funding commitment. The company announces that commercial operations at the Bunker Hill Mine in Kellogg, Idaho are likely to be delayed until H2 2025.
The company is advancing its US EXIM Bank financing application, following a letter of intent from October 2024 for US$150 million in debt finance. The formal application will be presented in March 2025, with funds intended for production optimization, mine life extension, and debt refinancing.
An updated mineral estimate is expected in Q1 2025, with a full report scheduled for April 2025. The development aligns with the recent "Unleashing American Energy" Executive Order, which emphasizes critical minerals development and domestic energy resources.
Bunker Hill Mining (OTCQB: BHLL) ha ricevuto l'ultima tranche di 6 milioni di dollari USA dal Sprott Private Resource Streaming and Royalty Corp's Standby Facility, completando l'impegno di finanziamento totale di 21 milioni di dollari USA. L'azienda annuncia che le operazioni commerciali nella Bunker Hill Mine a Kellogg, Idaho, potrebbero essere ritardate fino al secondo semestre del 2025.
L'azienda sta avanzando con la sua richiesta di finanziamento per il US EXIM Bank, dopo una lettera di intenti datata ottobre 2024 per un finanziamento debitorio di 150 milioni di dollari USA. La domanda formale sarà presentata a marzo 2025, con i fondi destinati all'ottimizzazione della produzione, all'estensione della vita mineraria e al rifinanziamento del debito.
Un'aggiornamento delle stime minerarie è previsto per il primo trimestre del 2025, con un rapporto completo programmato per aprile 2025. Lo sviluppo è in linea con il recente decreto esecutivo
Bunker Hill Mining (OTCQB: BHLL) ha recibido la última tranche de 6 millones de dólares de Sprott Private Resource Streaming and Royalty Corp's Standby Facility, completando el compromiso total de financiamiento de 21 millones de dólares. La empresa anuncia que las operaciones comerciales en la mina Bunker Hill en Kellogg, Idaho, probablemente se retrasarán hasta el segundo semestre de 2025.
La empresa avanza con su solicitud de financiamiento del US EXIM Bank, luego de una carta de intención de octubre de 2024 por 150 millones de dólares en financiamiento de deuda. La solicitud formal se presentará en marzo de 2025, con fondos destinados a la optimización de la producción, la extensión de la vida de la mina y el refinanciamiento de la deuda.
Se espera una actualización de la estimación mineral en el primer trimestre de 2025, con un informe completo programado para abril de 2025. Este desarrollo está alineado con la reciente Orden Ejecutiva
벙커 힐 마이닝 (OTCQB: BHLL)은 Sprott Private Resource Streaming and Royalty Corp의 대기 시설로부터 마지막 600만 달러를 수령했으며, 총 2100만 달러의 자금 조달 약정을 완료했습니다. 회사는 아이다호 주 켈로그에 있는 벙커 힐 광산의 상업적 운영이 2025년 하반기까지 지연될 가능성이 있다고 발표했습니다.
회사는 2024년 10월에 1억 5천만 달러의 채무 조달에 대한 의향서를 받은 후 미국 EXIM 은행에 대한 자금 조달 신청을 진행하고 있습니다. 정식 신청은 2025년 3월에 제출될 예정이며, 자금은 생산 최적화, 광산 수명 연장 및 부채 재융자에 사용될 예정입니다.
업데이트된 광물 추정치는 2025년 1분기에 예상되며, 전체 보고서는 2025년 4월로 예정되어 있습니다. 이 개발은 최근의 '미국 에너지 해방' 행정 명령과 일치하며, 이는 중요 광물 개발 및 국내 에너지 자원에 중점을 둡니다.
Bunker Hill Mining (OTCQB: BHLL) a reçu la dernière tranche de 6 millions de dollars US du Standby Facility de Sprott Private Resource Streaming and Royalty Corp, complétant ainsi l'engagement total de financement de 21 millions de dollars US. L'entreprise annonce que le début des opérations commerciales à la mine Bunker Hill à Kellogg, Idaho, risque d'être retardé jusqu'au second semestre de 2025.
L'entreprise avance dans sa demande de financement auprès de la Banque EXIM des États-Unis, suite à une lettre d'intention datant d'octobre 2024 pour un financement par emprunt de 150 millions de dollars US. La demande formelle sera présentée en mars 2025, les fonds étant destinés à l'optimisation de la production, à l'extension de la durée de vie de la mine et au refinancement de la dette.
Une mise à jour de l'estimation minérale est attendue au premier trimestre de 2025, avec un rapport complet prévu pour avril 2025. Ce développement est en ligne avec le récent décret exécutif "Débloquer l'énergie américaine", qui met l'accent sur le développement des minéraux critiques et des ressources énergétiques nationales.
Bunker Hill Mining (OTCQB: BHLL) hat die letzte Tranche von 6 Millionen US-Dollar von Sprott Private Resource Streaming and Royalty Corp's Standby Facility erhalten und damit das gesamte Finanzierungsengagement von 21 Millionen US-Dollar abgeschlossen. Das Unternehmen gibt bekannt, dass der Beginn der kommerziellen Betriebe im Bunker Hill Mine in Kellogg, Idaho, voraussichtlich bis zum zweiten Halbjahr 2025 verzögert wird.
Das Unternehmen arbeitet an seinem Antrag auf Finanzierung durch die US EXIM Bank, nachdem im Oktober 2024 ein Absichtsschreiben über 150 Millionen US-Dollar an Schuldenfinanzierung eingegangen ist. Der formelle Antrag wird im März 2025 eingereicht, wobei die Mittel für Produktionsoptimierung, Verlängerung der Lebensdauer der Mine und Schuldenrefinanzierung vorgesehen sind.
Eine aktualisierte Mineralbewertung wird für das erste Quartal 2025 erwartet, mit einem vollständigen Bericht, der für April 2025 eingeplant ist. Diese Entwicklung steht im Einklang mit der aktuellen Exekutivverordnung „Unleashing American Energy“, die die Entwicklung kritischer Mineralien und heimischer Energiequellen betont.
- Secured final US$6 million tranche completing US$21 million Standby Facility funding
- Potential US$150 million debt financing from US EXIM Bank in progress
- Aligns with new federal policy supporting critical minerals development
- Commercial operations delayed to H2 2025
KELLOGG, Idaho, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) (TSX-V: BNKR |OTCQB: BHLL) announces it has received the final tranche, in the amount of US
Sam Ash, President, CEO and Director, stated, “We are making steady progress in our strategic financing discussions and continue to advance the Bunker Hill Mine restart with Sprott Streaming's crucial and consistent support. All parties are excited by the ability of this investment to create new American mining jobs, thereby helping to increase the reliable supply of American metal at this critical time. Although it should be noted that the time taken to conclude any financing deal will likely push the start of commercial operations into H2 2025.”
Figure 1: Progress since September 2024 at the rear of the processing facility, ore silo, and motor control center
UNLEASHING AMERICAN ENERGY EXECUTIVE ORDER
Our progress coincides with the announcement by the new Federal administration of an enhanced focus on critical minerals, including Zinc. On January 20, 2025, President Trump issued the “Unleashing American Energy” Executive Order, which included (i) several urgent critical mineral and rare earth directives, including the immediate review of all agency actions that potentially burden the development of domestic energy resources with particular attention to critical minerals; (ii) directing the Secretary of Energy to ensure that critical mineral projects, including the processing of critical minerals, receive consideration for Federal support; (iii) directing the Secretary of Defense to consider the needs of the U.S. in supplying and maintaining the National Defense Stockpile to provide a robust supply of critical minerals; and (iv) establishing the U.S. position as the leading producer and processor of rare earth minerals, which will create jobs and prosperity at home, strengthen supply chains for the U.S. and its allies, and reduce the global influence of malign and adversarial states.
US EXIM BANK UPDATE
In parallel with the ongoing financing discussions with its strategic partners, the Company is also advancing its application for US EXIM Bank financing. Following the issue of the letter of intent in October 2024 to provide US
RESOURCE AND RESERVES UPDATE
The Company remains on track to issue an updated mineral estimate in Q1 2025 before PDAC, with a full report expected to be published in April 2025.
ABOUT BUNKER HILL MINING CORP.
Bunker Hill Mining Corp. is an American mineral exploration and development company focused on revitalizing our historic mining asset: the renowned zinc, lead, and silver deposit in northern Idaho's prolific Coeur d'Alene mining district. This strategic initiative aims to breathe new life into a once-productive mine, leveraging modern exploration techniques and sustainable development practices to unlock the potential of this mineral-rich region. Bunker Hill Mining Corp. aims to maximize shareholder value while responsibly harnessing the mineral wealth in the Silver Valley mining district by concentrating our efforts on this single, high-potential asset. Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR+ and EDGAR databases.
On behalf of Bunker Hill Mining Corp.
Sam Ash
President, CEO & Director
For additional information, please contact:
Brenda Dayton
Vice President, Investor Relations
T: 604.417.7952
E: brenda.dayton@bunkerhillmining.com
Cautionary Statements
Neither the TSX Venture Exchange (the “TSX-V”) nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, as well as within the meaning of the phrase ‘forward-looking information’ in the Canadian Securities Administrators’ National Instrument 51-102 – Continuous Disclosure Obligations (collectively, “forward-looking statements”). Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, “plan” or variations of such words and phrases.
Forward-looking statements in this news release include, but are not limited to, statements regarding: the Company’s objectives, goals or future plans, including the restart and development of the Bunker Hill Mine; the achievement of future short-term, medium-term and long-term operational strategies; further draws by the Company on the Standby Facility, including the Company satisfying any or all of the conditions in connection therewith; the planned use of funds from the Standby Facility; the Company engaging with stakeholders and strategic investors and securing additional financing for its Bunker Hill Mine; and the expected benefits of the potential restart of the Bunker Hill Mine, including, without limitation, job creation and improvement of American industrial security. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations and assumptions relating to: Bunker Hill’s ability to receive sufficient project financing for the restart and development of the Bunker Hill Mine on an acceptable timeline, on acceptable terms, or at all; further drilling and geotechnical work supporting the planned restart and operations at the Bunker Hill Mine; the future price of metals; and the stability of the financial and capital markets. Factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, those risks and uncertainties identified in public filings made by Bunker Hill with the U.S. Securities and Exchange Commission (the “SEC”) and with applicable Canadian securities regulatory authorities, and the following: the Company’s ability to operate as a going concern and its history of losses; the Company’s inability to raise additional capital for project activities, including through equity financings, concentrate offtake financings or otherwise; the fluctuating price of commodities; capital market conditions; restrictions on labor and its effects on international travel and supply chains; failure to identify mineral resources; further geotechnical work not supporting the continued development of the Bunker Hill Mine or the results described herein; failure to convert estimated mineral resources to reserves; the preliminary nature of metallurgical test results; the Company’s ability to raise sufficient project financing, on acceptable terms or at all, to restart and develop the Bunker Hill Mine and the risks of not basing a production decision on a feasibility study of mineral reserves demonstrating economic and technical viability, resulting in increased uncertainty due to multiple technical and economic risks of failure which are associated with this production decision including, among others, areas that are analyzed in more detail in a feasibility study, such as applying economic analysis to resources and reserves, more detailed metallurgy and a number of specialized studies in areas such as mining and recovery methods, market analysis, and environmental and community impacts and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit, with no guarantee that production will begin as anticipated or at all or that anticipated production costs will be achieved; the Company requiring additional capital expenditures than anticipated, resulting in delays in the expected restart timeline; failure to commence production would have a material adverse impact on the Company's ability to generate revenue and cash flow to fund operations; failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; political risks; changes in equity markets; uncertainties relating to the availability and costs of financing needed in the future; the inability of the Company to budget and manage its liquidity in light of the failure to obtain additional financing, including the ability of the Company to complete the payments pursuant to the terms of the agreement to acquire the Bunker Hill Mine complex; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of projects; and capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements in this news release are reasonable, undue reliance should not be placed on such statements or information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all, including as to whether or when the Company will achieve its project finance initiatives, or as to the actual size or terms of those financing initiatives, or whether and when the Company will achieve its operational and construction targets. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Readers are cautioned that the foregoing risks and uncertainties are not exhaustive. Additional information on these and other risk factors that could affect the Company’s operations or financial results are included in the Company’s annual report and may be accessed through the SEDAR+ website (www.sedarplus.ca) or through EDGAR on the SEC website (www.sec.gov).
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e4dccce7-be82-450c-92b0-5ff2887e9c2d
FAQ
What is the total amount of funding received by BHLL from Sprott's Standby Facility?
When is BHLL expected to start commercial operations at the Bunker Hill Mine?
How much potential financing is BHLL seeking from US EXIM Bank?
When will BHLL release its updated mineral estimate and full report?
