Guanajuato Silver Repays OCIM Loan In Full
Guanajuato Silver Company (TSXV:GSVR)(OTCQX:GSVRF) has fully repaid its US$7,500,000 silver and gold pre-payment facility to OCIM Metals & Mining S.A. This repayment signifies the company's improving financial position and frees up significant monthly cash flows. The loan from OCIM was instrumental in GSilver's acquisition of the El Cubo mine and milling facility, enabling its rapid transition to producer status.
With this repayment, GSilver now has only one outstanding loan - the Expanded Facility with Ocean Partners UK , repayable in fixed monthly installments of approximately 338 troy ounces of gold over 30 months. The company's production averaged over 1600 ounces of gold and 137,000 ounces of silver monthly during the first half of 2024, demonstrating its growing capacity as a significant precious metals producer in Mexico.
La Guanajuato Silver Company (TSXV:GSVR)(OTCQX:GSVRF) ha completamente ripagato la propria linea di pre-pagamento in argento e oro di 7.500.000 USD a OCIM Metals & Mining S.A. Questo rimborso segna il miglioramento della posizione finanziaria dell'azienda e libera flussi di cassa mensili significativi. Il prestito da OCIM è stato fondamentale per l'acquisizione da parte di GSilver della miniera e dell'impianto di lavorazione El Cubo, consentendo una rapida transizione verso lo status di produttore.
Con questo rimborso, GSilver ha ora solo un prestito in corso - la linea di credito ampliata con Ocean Partners UK, rimborsabile in rate mensili fisse di circa 338 once troy d'oro per 30 mesi. Durante il primo semestre del 2024, la produzione dell'azienda ha mediamente superato 1600 once d'oro e 137.000 once d'argento mensili, dimostrando la sua crescente capacità come produttore di metalli preziosi in Messico.
La Guanajuato Silver Company (TSXV:GSVR)(OTCQX:GSVRF) ha pagado completamente su facilidad de prepago de 7,500,000 USD en plata y oro a OCIM Metals & Mining S.A. Este reembolso significa una mejora en la posición financiera de la empresa y libera flujos de efectivo significativos mensuales. El préstamo de OCIM fue instrumental en la adquisición de GSilver de la mina y la instalación de procesamiento El Cubo, facilitando su rápida transición a estatus de productor.
Con este reembolso, GSilver solo tiene un préstamo pendiente - la Facilidad Expandida con Ocean Partners UK, reembolsable en cuotas mensuales fijas de aproximadamente 338 onzas troy de oro durante 30 meses. La producción de la empresa promedió más de 1600 onzas de oro y 137,000 onzas de plata mensualmente durante la primera mitad de 2024, demostrando su creciente capacidad como productor significativo de metales preciosos en México.
Guanajuato Silver Company (TSXV:GSVR)(OTCQX:GSVRF)는 750만 달러의 은 및 금 선지급 시설을 완전히 상환했습니다 OCIM Metals & Mining S.A.에. 이 상환은 회사의 재무 상태 개선을 의미합니다 그리고 상당한 월별 현금 흐름을 확보합니다. OCIM의 대출은 GSilver의 El Cubo 광산 및 정제 시설 인수에 중요한 역할을 하여 신속하게 생산자 상태로 전환할 수 있게 했습니다.
이 상환으로 GSilver는 이제 Ocean Partners UK와의 확대된 시설이라는 단 하나의 미지급 대출만 남아 있으며, 30개월 동안 약 338 트로이 온스의 금을 고정 월별 할부로 상환해야 합니다. 회사의 생산량은 2024년 상반기 동안 월 평균 1600온스 이상의 금과 137,000온스 이상의 은을 기록했습니다, 이는 멕시코에서 중요한 귀금속 생산자로서의 성장 가능성을 보여줍니다.
La Guanajuato Silver Company (TSXV:GSVR)(OTCQX:GSVRF) a entièrement remboursé sa facilité de prépaiement en argent et en or de 7 500 000 USD à OCIM Metals & Mining S.A. Ce remboursement signifie une amélioration de la position financière de l'entreprise et libère des flux de trésorerie mensuels significatifs. Le prêt d'OCIM a été essentiel dans l'acquisition par GSilver de la mine et de l'installation de transformation El Cubo, permettant une transition rapide vers le statut de producteur.
Avec ce remboursement, GSilver n'a plus qu'un seul prêt impayé - la facilité élargie avec Ocean Partners UK, remboursable par des versements fixes mensuels d'environ 338 onces troy d'or pendant 30 mois. La production de l'entreprise a en moyenne dépassé 1600 onces d'or et 137 000 onces d'argent par mois au cours du premier semestre 2024, démontrant sa capacité croissante en tant que producteur important de métaux précieux au Mexique.
Die Guanajuato Silver Company (TSXV:GSVR)(OTCQX:GSVRF) hat ihre Vorauszahlungseinrichtung für Silber und Gold in Höhe von 7.500.000 USD vollständig zurückgezahlt an OCIM Metals & Mining S.A. Diese Rückzahlung zeigt die verbesserte finanzielle Lage des Unternehmens und macht bedeutende monatliche Cashflows frei. Darlehen von OCIM waren entscheidend für den Erwerb der El Cubo Mine und der Verarbeitungsanlage durch GSilver, was dessen raschen Übergang zum Produzentenstatus ermöglichte.
Mit dieser Rückzahlung hat GSilver jetzt nur noch ein ausstehendes Darlehen - die erweiterte Anlage mit Ocean Partners UK, die in festen monatlichen Raten von etwa 338 troy ounces Gold über 30 Monate zurückzuzahlen ist. Die Produktion des Unternehmens betrug im ersten Halbjahr 2024 im Durchschnitt über 1600 Unzen Gold und 137.000 Unzen Silber pro Monat, was seine wachsende Kapazität als bedeutender Produzent von Edelmetallen in Mexiko zeigt.
- Full repayment of US$7.5 million loan to OCIM, improving financial flexibility
- Increased monthly cash flows available due to loan repayment
- Strong production figures: over 1600 oz gold and 137,000 oz silver monthly in H1 2024
- Transition to significant producer status in Mexico
- Remaining loan facility with Ocean Partners UK requiring monthly gold repayments
~ Elimination of Debt Facility Demonstrates Improving Financial Position ~
VANCOUVER, BC / ACCESSWIRE / September 19, 2024 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF), a growing gold and silver producer with operations in Mexico, is pleased to announce the complete repayment of its US
James Anderson, Chairman and CEO, said, "Our rapid transition to producer status was made possible by OCIM; they provided the initial financing for our acquisition of the El Cubo mine and milling facility. In OCIM, we have been very fortunate to have had a funding partner steadfast in their support of our goals and strategic initiatives during the early days of the Company's emergence into a significant producer of silver and gold in Mexico. The full repayment of this loan frees up significant monthly cashflows, thereby providing Guanajuato Silver with enhanced financial flexibility and a strengthened working capital position as we continue to advance production at our four producing silver mines in Mexico."
Laurent Mathiot, Chairman and CEO of OCIM, added, "Supporting junior mining companies to reach a new status and increase production is exactly where OCIM can add significant value through our bespoke funding solutions. James Anderson, and his Guanajuato Silver team, have always exhibited the highest level of professionalism, best practices, and business acumen. It has been a pleasure to be associated with Guanajuato Silver and we wish the Company continued future success."
Guanajuato Silver now has a single loan outstanding - the gold loan credit facility (the "Expanded Facility") with Ocean Partners UK Ltd. (see GSilver news release dated February 29, 2024). The Expanded Facility is repayable in equal fixed monthly installments of gold totalling approximately 338 troy ounces per month for a period of 30 months which commenced in June 2024. Notably, Guanajuato Silver averaged monthly production of over 1600 ounces of gold and over 137,000 ounces of silver during the first half of 2024.
About Guanajuato Silver
GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The Company produces silver and gold concentrates from the El Cubo Mine, Valenciana Mines Complex, and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history. Additionally, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Anderson"
Chairman and CEO
For further information regarding Guanajuato Silver Company Ltd., please contact:
JJ Jennex, Gerente de Comunicaciones, T: 604 723 1433
E: jjj@GSilver.com
GSilver.com
Guanajuato Silver Bullion Store
Please visit our Bullion Store, where Guanajuato Silver coins and bars can be purchased.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, the rapidly improving financial and working capital position of Guanajuato Silver, the immediate positive impact on the Company's monthly economic performance, the ramp-up of the Company's four producing silver mines, the repayment of the Ocean Partners UK Ltd. gold loan credit facility, and GSilver's status as one of the fasting growing silver mining company in Mexico.
Such forward-looking statements and information reflect management's current beliefs and are based on information currently available to and assumptions made by the Company; which assumptions, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: the potential quantity, grade and metal content of the mineralized material at El Cubo and San Ignacio, the geotechnical and metallurgical characteristics of such material conforming to sampled results and metallurgical performance; available tonnage of mineralized material to be mined and processed; resource grades and recoveries; assumptions and discount rates being appropriately applied to production estimates; prices for silver, gold and other metals remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects and to satisfy current liabilities and obligations including debt repayments; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation) and inflation rates remaining as estimated; no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
Readers are cautioned that such forward-looking statements and information are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results, level of activity, production levels, performance or achievements of GSilver to differ materially from those expected including, but not limited to, market conditions, availability of financing, currency rate fluctuations, high inflation and interest rates, geopolitical conflicts including wars, actual results of exploration, development and production activities, actual resource grades and recoveries of silver, gold and other metals from the Company's existing mines including El Cubo and San Ignacio availability of third party mineralized material for processing, unanticipated geological or structural formations and characteristics, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, equipment or personnel delays, delays in obtaining governmental or regulatory approvals and permits, inadequate insurance, and other risks in the mining industry. There are no assurances that GSilver will be able to continue to increase production, tonnage milled and recoveries rates, improve grades and reduce costs at El Cubo, San Ignacio, VMC and/or Topia to process mineralized materials to produce silver, gold and other concentrates in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to process mineralized material from El Cubo, San Ignacio, VMC and Topia is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore is subject to increased uncertainty and risk of failure, both economically and technically. Mineral resources and mineralized material that are not Mineral Reserves do not have demonstrated economic viability, are considered too speculative geologically to have the economic considerations applied to them, and may be materially affected by environmental, permitting, legal, title, socio-political, marketing, and other relevant issues. There are no assurances that the Company's projected grades of gold and silver at El Cubo, San Ignacio, VMC and Topia and the anticipated level of production therefrom will be realized. In addition, there are no assurances that the Company will meet its production forecasts or generate the anticipated cash flows from operations to satisfy its scheduled debt payments or other liabilities when due or meet financial covenants to which the Company is subject or to fund its exploration programs and corporate initiatives as planned. There is also uncertainty about impact of any resurgence of COVID-19, the ongoing war in Ukraine and conflict in Gaza, elevated inflation and interest rates and the impact they will have on the Company's operations, supply chains, ability to access mining projects or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. Accordingly, readers should not place undue reliance on forward-looking statements or information. All forward-looking statements and information made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.com including the Company's most recently filed annual information form . These forward-looking statements and information are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law.
SOURCE: Guanajuato Silver Company Ltd.
View the original press release on accesswire.com
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