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Overview of Bunker Hill Mining
Bunker Hill Mining Corporation (BHLL) is transforming a historic mining asset into a modern, sustainable operation by revitalizing the iconic Bunker Hill silver–lead–zinc mine in Kellogg, Idaho. The company integrates sustainable mining practices with advanced extraction techniques to efficiently produce essential metals that underpin a low–carbon future. With a refined focus on asset regeneration and capital discipline, Bunker Hill is redefining the standards for revitalizing legacy mining operations.
Core Business and Operations
At its core, Bunker Hill Mining is dedicated to the sustainable restart and development of its primary mining asset. The company harnesses modern technology to extract and process zinc, silver, and lead, generating a diversified product portfolio in the metallurgical sector. These metals are critical ingredients in various industrial applications, including galvanization processes essential for sustainable construction and infrastructure. Employing modern extraction techniques and disciplined capital allocation, the company manages its operations with heightened efficiency and safety standards.
Market Position and Competitive Dynamics
Bunker Hill Mining occupies a unique niche in the mining industry. Amid a competitive landscape that includes long–standing, legacy mining operations, its strategy of asset regeneration and operational modernization enables it to stand apart. By transforming an underperforming mine into a viable, high–margin operation, the company reinforces its market relevance. Investors and industry experts note that its approach to resource optimization through sustainable practices and innovative finance mechanisms—such as non–dilutive silver bonds—further cements its differentiated market position.
Sustainable and Innovative Practices
The company is deeply committed to employing sustainable production methods that minimize environmental impact while maximizing resource recovery. Modern mining technologies and advanced extraction processes form the backbone of its operational strategy. Bunker Hill Mining is leveraging innovative financing structures to support its rapid re–start and ongoing development, underscoring a clear emphasis on non–dilutive capital solutions. These practices not only ensure the efficient use of capital but also promote long–term sustainability throughout the resource extraction process.
Operational Excellence and Technological Advancements
Operational excellence is achieved through the integration of modern extraction techniques and meticulous asset management practices. The company has strategically optimized its operations by refurbishing legacy infrastructure and innovating in key areas such as conveyor systems, concentrator linking, and ramp stabilization. Each phase of the operation is designed to enhance productivity and ensure the safe and environmentally responsible extraction of critical metals.
Industry Impact and Stakeholder Value
Bunker Hill Mining plays a crucial role in supplying metals that are essential for both traditional industrial processes and emerging low–carbon technologies. The production of zinc, silver, and lead is integral to the sustainable development framework that supports modern infrastructure initiatives. Through prudent resource management and an unwavering focus on operational efficiency, the company is well positioned to provide enduring stakeholder value. Its clear emphasis on generating returns via the regeneration of legacy assets serves as a robust model for modern mining in a rapidly evolving market.
Investor Communication and Transparency
The company places significant importance on clear, transparent communication with its investors. Regular updates on its operational milestones, strategic refinements, and technological advancements provide a steady stream of information that reinforces its credibility and industry insight. This commitment to transparency ensures that both institutional and individual investors are well informed about the company’s strategic processes and operational outcomes.
Conclusion
In summary, Bunker Hill Mining Corporation epitomizes a progressive shift in mining operations, where legacy assets are revitalized with modern techniques and sustainable practices. Its multi–faceted approach—not only in technological innovation but also in financial strategy—illustrates a comprehensive commitment to balancing performance with responsible resource management. By focusing on efficient extraction and sustainable production of essential metals, Bunker Hill Mining continues to solidify its role as a pivotal player within an industry that is critical to global infrastructure and the emerging low–carbon economy.
Bunker Hill Mining announces updates to its mine restart project, which is currently 64% complete. The total restart expenditure has increased to $103 million from the previously forecasted $67 million, with a delay of up to four months. The company plans to secure financing through a $21 million standby facility from Sprott Private Resource Streaming and Royalty Corp and seeks an additional $30 million through potential offtake agreements.
The cost increase is attributed to significant input cost inflation, including a 53% rise in skilled construction labor costs, 40% increases in structural steel and copper costs, and a 20% increase in concrete prices. The project also faced setbacks due to a filter press scope change and an unexpected contractor departure. The revised timeline now targets operations to commence in Q2 2025.
Bunker Hill Mining (TSXV: BNKR) (OTCQB: BHLL) is advancing its historic U.S. mining asset with a focus on zinc production, positioning itself as a key supplier for the low-carbon energy transition. The company expects to generate 70% of its revenue from zinc, which is important for galvanization in sustainable infrastructure, while also producing silver and lead. The company has notably achieved a rapid transition from permitting to production in less than five years, outperforming the typical U.S. industry timeline.
Bunker Hill Mining has closed the fourth tranche of its silver loan facility with Monetary Metals Bond III , securing US$1,250,000 (equivalent to 39,619.65 ounces of silver). The company's concentrator construction is 98% complete with components ready for installation. Underground drilling continues to inform an updated resource statement expected in Q1 2025, while a new drill program targeting high-grade silver is being prepared. The total silver loan facility includes previous tranches: First Tranche (US$16,422,039), Second Tranche (US$6,369,000), and Third Tranche (US$6,321,112). The company will issue 476,793 bonus warrants to Monetary Metals, exercisable at C$0.12 until August 8, 2027.
Monetary Metals has provided over 1 million ounces in silver bond financing to Bunker Hill Mining (OTCQB: BHLL), marking the first silver bond issuance in over 200 years. The three-year bond pays a 12% annual coupon in silver and supports the restart of the Bunker Hill Mine in Idaho. The agreement allows for up to 1.2 million ounces of silver to be loaned in tranches, with 1,008,581 ounces already delivered. Investors include high-net-worth individuals, family offices, and institutions. This innovative financing mechanism represents a non-dilutive funding solution for the mining sector.
Bunker Hill Mining has closed the third tranche of its silver loan facility with Monetary Metals Bond III , securing US$6,321,112 (equivalent to 198,777 ounces of silver) as of November 6, 2024. This follows the first tranche of US$16,422,039 (609,805 silver ounces) closed on August 8, and the second tranche of US$6,369,000 (200,000 silver ounces) closed on September 25. The total silver loan facility can reach up to 1.2 million ounces of silver. Additionally, the company issued 750,000 common shares at C$0.16 per share to settle partially a C$166,304.31 payment to a former director, with the remaining C$46,304.31 paid in cash.
Bunker Hill Mining has received a non-binding Letter of Interest from the Export-Import Bank of the United States (EXIM) for up to $150M in debt funding with a 15-year term. The funding aims to accelerate the development of the Bunker 2.0 expansion project, which will increase production capacity from 1800tpd to 2500tpd. The company plans to restart operations in the first half of next year, conduct extensive drilling, and issue an updated resource report in Q1|25. The project focuses on mining zinc and silver, with zinc already listed as a US critical metal and silver under review for the 2025 critical metals list.
Bunker Hill Mining Corp. (TSXV:BNKR | OTCQX:BHLL) has provided an update on its construction progress and production timeline for the Bunker Hill Mining project in Idaho, USA. Key highlights include:
- Structural construction of the 1800 tpd Process Plant is 85% complete
- Procurement is 98% complete, with 95% of equipment on site or scheduled for delivery
- Pre-commissioning activities have begun, including staff recruitment and operational readiness tasks
- Underground rehabilitation continues on schedule
- Resource conversion drilling is intersecting mineralization as predicted
- Production is scheduled for H1 2025
The company reports excellent safety performance and significant progress in various areas, including the processing facility, underground operations, and systems implementation. The project remains on track for production start in the first half of 2025.
Bunker Hill Mining Corp. (TSX-V: BNKR; OTCQB: BHLL) has agreed to settle 1,051,787 vested deferred share units (DSUs) with a former director by issuing 1,039,403 common shares at C$0.16 per share. This settlement, valued at C$166,304.41, aims to preserve cash for the potential restart and development of the Bunker Hill Mine. The transaction requires regulatory approvals, including TSX-V approval. The issued shares will be subject to a four-month and one-day hold period under Canadian securities laws and applicable U.S. hold periods. These shares have not been registered under the U.S. Securities Act and cannot be offered or sold in the United States without registration or exemption compliance.
Bunker Hill Mining Corp. (TSX-V:BNKR | OTCQB:BHLL) has appointed Kelli Kast to its Board of Directors, effective immediately. Ms. Kast, originally from Coeur D'Alene, Idaho, brings over 30 years of US and international leadership experience in natural resource legal affairs. She currently serves as the Vice President, General Counsel and Chief Administrative Officer of Rare Element Resources (OTCQB:REEMF).
Ms. Kast will chair the Board's Corporate Governance, Nominating and Compensation Committee. Her extensive background includes roles as Senior VP, General Counsel, Chief Administration Officer, and Corporate Secretary at Coeur Mining from 2005-2012. She holds a Juris Doctor degree from the University of South Dakota and is a licensed Idaho attorney.
Bunker Hill Mining Corp. (TSX-V:BNKR | OTCQB:BHLL) has closed the second tranche of its previously announced silver loan with Monetary Metals Bond III The second tranche amounts to US$6,369,000, equivalent to 200,000 ounces of silver as of September 24, 2024. This follows the first tranche of US$16,422,039, equivalent to 609,805 ounces of silver, closed on August 8, 2024.
In connection with the second tranche, Bunker Hill will issue 400,000 non-transferable bonus share purchase warrants to Monetary Metals, subject to TSX Venture Exchange approval. Each warrant allows the holder to acquire one common share at C$0.16 until August 8, 2027. The total silver loan facility can reach up to 1.2 million ounces of silver, supporting the re-start and development of the Bunker Hill Mine.
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