Denarius Silver Stock Price, News & Analysis

Denarius Metals announced details for interest payments on its convertible unsecured debentures due June 30, 2025. Following recent amendments to trust indentures, the company will issue common shares instead of cash for monthly interest payments from June 30, 2025 to May 31, 2026. The company has CA$19.89M in debentures due October 2029 and CA$14.29M due May 2030. Based on the June 13 closing price of CA$0.60 per share, a maximum of 563,140 common shares will be issued to settle CA$337,885 in interest payments. Company executives, including Executive Chairman Serafino Iacono and CEO Federico Restrepo-Solano, will receive 144,068 shares for their debenture holdings.

Denarius Metals (DNRSF) has secured consent from debenture holders to amend terms of its convertible unsecured debentures. The company received approval from 93.6% of 2023 Debenture holders (CA$19.52M outstanding) and 97.1% of 2024 Debenture holders (CA$14.03M outstanding). Key amendments include allowing share issuance instead of cash for monthly interest payments from June 2025 to May 2026, implementing a US$4,000/oz cap on gold price for Gold Premium Payment calculations, and enabling share-based settlement of Gold Premium Payments for specific dates in 2026. Consenting holders will receive a 2% fee in additional debentures, resulting in 638,014 new consent fee debentures, with company executives receiving 171,523 of these. The amendments await final Cboe Canada approval, expected effective June 18, 2025.

Denarius Metals Corp. (DNRSF) held its Annual General and Special Meeting of Shareholders with 52.09% shareholder participation, representing 56,914,696 shares. All proposed matters were successfully approved with overwhelming majority support. Shareholders approved fixing the board size at six directors with 99.67% approval. All six director nominees were elected with over 99.90% support, including Serafino Iacono, Federico Restrepo-Solano, Paul Sparkes, Mateo Restrepo Villegas, Francisco Sole, and Patricia Herrera Paba. Additionally, KPMG LLP was appointed as the company's auditor with 99.99% approval.

Denarius Metals (DNRSF) has initiated a consent solicitation process to modify terms of its convertible unsecured debentures worth CA$33.5 million total. The proposed amendments aim to strengthen liquidity during the ramp-up of mining operations at the Zancudo Project in Colombia. Key changes include allowing the company to issue shares instead of cash for monthly interest payments from June 2025 to May 2026, implementing a US$4,000 per ounce cap on gold price for premium payments, and issuing shares for Gold Premium Payments. The company requires 66.67% approval from debenture holders by June 13, 2025. Holders who approve will receive a 2% consent fee in additional debentures. The Zancudo Project began operations in April 2025, with first ore shipment to Trafigura scheduled for June, targeting 500 tonnes per day production by early 2026.

Denarius Metals (DNRSF) has secured a crucial 20-year Water Concession for its Aguablanca Project in Spain, marking the final permit needed to restart operations. The project, recently recognized as "Strategic" by the European Commission, will undergo a 6-9 month dewatering program alongside plant refurbishment. The company has also commenced mining at its Zancudo Project in Colombia in April 2025, with first production expected in Q2 2025. Denarius secured financing through Trafigura, receiving $2.5M with potential for additional $6.5M. Recent drilling results at Zancudo's Las Brisas target showed promising results, including a new mineralized manto vein discovery. The company raised $3.4M through a private placement, ending Q1 2025 with $3.1M cash. Financial results show a reduced net loss of $4.2M ($0.04/share) in Q1 2025, compared to $11.1M ($0.18/share) in Q1 2024.

Denarius Metals has signed a binding Letter of Intent with Quimbaya Gold to form a 50/50 joint venture focused on formalizing small-scale mining operations at the Tahami Project in Colombia's Segovia Gold District. The project is strategically located adjacent to Aris Mining's high-grade Segovia Operations. The partnership will be executed through Zancudo Metals Corp., Denarius's wholly-owned subsidiary, targeting development in Tahami South and North areas across four concessions owned by Quimbaya.

The joint venture aims to formalize artisanal mining operations while supporting local communities. Denarius Metals will provide technical and financial support for miners' legalization, assist with mining and environmental licensing, and lead production commercialization. This initiative aligns with Quimbaya's ongoing exploration efforts, including a planned 4,000-meter drilling campaign at Tahami South.

Denarius Metals (DNRSF) has announced final results from its 2024 infill drilling program at the Las Brisas Target of its Zancudo Project in Colombia. The program, totaling 2,435 meters across 13 drill holes, revealed multiple high-grade gold and silver intercepts, confirming mineralization continuity on the Manto Antiguo and Santa Catalina veins.

Key highlights include:

• 18.27 g/t Au and 1,819 g/t Ag over 0.30m (Manto Antiguo)
• 23.11 g/t Au and 1,653 g/t Ag over 0.40m (Manto Antiguo)
• 14.0 g/t Au and 96 g/t Ag over 0.70m (Santa Catalina)

The company discovered a new manto vein named Manto Brisas in the footwall of the Santa Catalina vein, yielding 12.12 g/t Au and 93 g/t Ag over 0.50m. The 2024 drilling program, designed at 50x50 meters drill centers, aims to upgrade Inferred Resources to Indicated Resources category and support near-term mine development.

Denarius Metals has commenced mining operations at its Zancudo Project in Colombia, with first production expected in Q2 2025. The company's 1,000 tonnes per day processing plant will be operational by Q4 2025, fully funded by a $9 million prepayment financing from Trafigura.

The company invested $22.1 million in 2024 for its projects, with $18.7 million allocated to Zancudo and Aguablanca Projects. Financing activities included raising $20.3 million through various means, including royalty sales and private placements. The European Commission has recognized the Aguablanca Project in Spain as a Strategic Project, one of only seven in Spain.

In 2024, Denarius completed 7,225 meters of drilling at Zancudo, securing key offtake contracts with Trafigura and Boliden Commercial AB. The company reported a net loss of $9.9 million ($0.14 per share) in 2024, an improvement from the $14.4 million loss in 2023.

Denarius Metals (OTCQX: DNRSF) has announced the termination of its previously announced best efforts brokered private placement due to volatile market conditions. The company will instead proceed with a non-brokered private placement of up to 13,000,000 Units at CA$0.50 per Unit, targeting gross proceeds of up to CA$6.5 million.

Each Unit includes one common share and one warrant, with warrants exercisable at CA$0.60 per share within 36 months after closing. The offering is expected to close by March 20, 2025. Insiders have indicated interest to participate for approximately CA$1.5 million.

The proceeds will fund projects in Spain, including:

• Scoping studies and site administration at Lomero and Toral Projects
• Capital contributions for restart activities at Aguablanca Project
• General corporate and administrative costs