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KUYA SILVER CORP, listed as KUYAF on the stock market, is a Canadian-based mineral exploration and development company specializing in acquiring, exploring, and advancing precious metals assets in Peru and Canada. In partnership with Sumou Holding, a renowned investment holding company based in Saudi Arabia, Kuya Silver has secured the Umm Hadid mineral exploration license in central KSA. This recent achievement highlights the company's dedication to defining resources and advancing mine development at an accelerated rate. With a focus on silver, gold, and base metals, Kuya Silver is positioned to play a significant role in the mining sector, especially within the underexplored region of the KSA.
Kuya Silver (CSE: KUYA) (OTCQB: KUYAF) has announced its first concentrate sale from the Bethania silver mine in Peru. Key highlights include:
- 420 metric tonnes of mineralized material processed to date
- First sale of 9.58 dry metric tonnes of silver-lead concentrate
- Successful testing of the entire value chain from mining to delivery
- Ongoing stockpiling of mineralized material at the mine site
The company's CEO, David Stein, expressed excitement about processing silver-rich material as silver prices reach multi-year highs. Kuya Silver receives a 90% advance payment upon concentrate delivery, with final payment after content verification. The company expects batch sizes to increase as operations ramp up, ensuring a steady supply of concentrate from the Bethania project.
Kuya Silver (CSE: KUYA) (OTCQB: KUYAF) has closed a convertible financing agreement with L1 Capital Global Opportunities Master Fund. The deal includes:
1. A CAD$1,000,000 secured convertible debenture (face value CAD$1,111,111) with an 8% annual interest rate and 15-month term.
2. 959,609 common share purchase warrants exercisable at CAD$0.435 until April 9, 2027.
3. An option for an additional CAD$500,000 debenture with similar terms.
The financing provides additional flexibility for Kuya Silver's Bethania Project in Peru. The debentures are convertible into common shares at the closing price of each fiscal quarter. Kuya can repay early at 110% of the principal amount plus accrued interest.
Kuya Silver (CSE: KUYA) (OTCQB: KUYAF) has announced a convertible financing agreement with L1 Capital Global Opportunities Master Fund. The deal includes:
1. A CAD $1,111,111 secured convertible debenture with a 10% original issue discount, netting CAD $1,000,000 for Kuya Silver.
2. Common share purchase warrants, exercisable for 30 months at 130% of the closing price.
3. An option for an additional CAD $555,555 debenture with similar terms.
The financing aims to provide financial flexibility as Kuya Silver ramps up silver production at the Bethania Project in Peru. The debentures have a 15-month term with an 8% annual interest rate and are convertible to common shares. Kuya Silver can repay early at 110% of the principal amount.
Kuya Silver (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) has announced the grant of 340,000 stock options to independent directors as part of their annual equity incentive. The options have an exercise price of $0.38 per common share and are subject to vesting provisions. Any common shares issued through these options will have a hold period expiring on December 31, 2024. This move is part of the company's strategy to align the interests of its independent directors with those of shareholders and provide long-term incentives for their service.
Kuya Silver (CSE: KUYA) (OTCQB: KUYAF) has commenced its 2024 Phase 1 drilling program at the Silver Kings Project in Ontario, Canada. The company plans to drill a total of 10,000 meters in multiple phases, targeting high-grade silver-cobalt mineralization at depth in the historic Cobalt Ontario silver mining camp. The program will focus on the new Frontier NW target, Campbell-Crawford target, and Airgiod target.
Key highlights include:
- Frontier NW target: A 400m long, NW-trending fault with potential for high-grade mineralization
- Campbell-Crawford and Airgiod targets: Focus on mineralized veins at the lower diabase contact
- Previous drilling success: Bonanza-grade silver intersected in a 2023 discovery drill hole
The company aims to expand on its 2023 discoveries in this world-class historic mining district.
Kuya Silver has launched its 2024 Silver Kings Exploration Program to drill high-priority silver-cobalt targets, focusing on Campbell-Crawford, Airgiod, and Frontier NW zones.
The company plans to commence drilling at least 10,000 meters in Q3 2024, building on 2023 discoveries. Key areas include the Angus Vein at Campbell-Crawford with six mineralized veins, Moran and Clark Veins at Airgiod, and the Hammerstrom fault at Frontier NW.
High-grade mineralization has been detected, including up to 23 g/t silver, 4.1% cobalt, and 1.1% nickel at Frontier NW. The program aims to expand resource growth and production, complementing Kuya Silver’s flagship Bethania silver mine in Peru.
Kuya Silver (CSE: KUYA, OTCQB: KUYAF, FSE: 6MR1) announced the successful closing of its non-brokered flow-through private placement, raising CDN$2,500,160 in gross proceeds. The company issued 5,208,667 flow-through units at CDN$0.48 each, comprising one flow-through common share and one-half of a non-transferable common share purchase warrant. Each warrant allows the purchase of one non-flow-through common share at CDN$0.64 until June 19, 2026. The funds will be allocated towards Canadian Exploration Expenses for Kuya Silver's projects in Ontario. Finder's fees included a cash commission of CDN$34,809.61 and an equity commission worth CDN$115,200, resulting in 267,907 common shares issued. All issued securities are subject to a hold period until October 20, 2024, as per Canadian regulations.
Kuya Silver (CSE: KUYA, OTCQB: KUYAF, FSE: 6MR1) announced a non-brokered flow-through private placement to raise up to CDN$2 million. The Offering involves issuing up to 4,166,667 flow-through units at CDN$0.48 per unit. Each unit includes one flow-through common share and half a warrant, with a full warrant allowing the purchase of a non-flow-through common share at CDN$0.64 within 24 months. The proceeds will fund Canadian exploration expenses, especially on the Silver Kings project in Ontario. Finder's fees, including a 6% cash commission and 6% equity commission, may be paid. Securities from the Offering will have a holding period of 4 months and 1 day. Kuya Silver aims to build value for the Silver Kings project while ramping up production from the Bethania silver mine.
Kuya Silver (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) has announced the start of production at their Bethania silver mine, marking a significant milestone. Initial mineralized material is being extracted from the Española vein system at the 640 level and stockpiled for future milling. Production is expected to increase to an initial target of 350 tons per day over the next year. Reconditioning efforts are ongoing at the 640 and 670 levels to ensure safe production. As operations scale, the company aims to transition to more frequent processing batches. COO Christian Aramayo emphasized the dedication and safety culture of the Kuya Silver team in reaching this milestone.
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