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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 an equity incentive plan implementation, granting 500,000 restricted share units (RSUs) and 1,335,000 stock options to directors, officers, employees, and consultants. The stock options can be exercised until February 10, 2030 at $0.315 per option, subject to vesting conditions. The RSUs will convert into common shares in tranches without additional cost. All shares issued under this equity grant will have a hold period ending June 11, 2025, unless the Canadian Securities Exchange provides written approval for earlier release.
Kuya Silver (KUYAF) announced significant drilling results from its Silver Kings Project in Ontario, Canada. The company intersected multiple high-grade silver-cobalt veins, including a notable 11.49 m mineralized zone grading 353 g/t silver and 0.11% cobalt at the Campbell-Crawford target.
Key findings include five of seven drillholes showing significant mineralization, with the best intersection yielding 1,372 g/t silver over 2.36 m. The discovered pipe-like structure measures approximately 30 m wide and 40 m long, with high-grade mineralization tested to 20 m depth and potential to extend to 100 m.
The company identified a flexure zone between parallel Angus and McNamara veins, with connecting ladder veins showing promising results: an upper vein grading 1,540 g/t silver and 2.41% cobalt over 0.40 m, and a lower vein yielding 1,530 g/t silver and 1.93% cobalt over 0.40 m. This discovery represents potential for the first economically viable finding in the Cobalt mining camp in over 50 years.
Kuya Silver (CSE: KUYA) (OTCQB: KUYAF) has closed a second tranche of convertible financing. The company issued an additional unit comprising a secured convertible debenture worth CAD$436,500 (face value CAD$485,000) and 560,595 warrants exercisable at CAD$0.37 until June 5, 2027.
The debenture includes a 10% original issue discount and matures in 15 months with an 8% annual interest rate. The principal amount is convertible into common shares at the previous day's closing price. The company can repay early at 110% of principal plus interest, with the investor able to exclude up to one-third from early repayment. The proceeds will fund mining operations at the Bethania Project, Peru, and working capital.
Currently, the total remaining loan principal on the debentures is $836,500.
Kuya Silver has announced a Letter of Intent with Novamera Inc. to implement their patented Surgical Mining™ process at the Bethania mine in Peru. This technology could add approximately 100 tonnes per day of production from surface operations, supplementing conventional underground mining.
Novamera will arrange financing of $4.0-4.5 million USD for the project, to be repaid from project cash flows. The Bethania mine is currently ramping up production, reaching nearly 40 tpd, with aims to achieve 350 tpd by Q3 2025. During development, a new mineralized branch of the Española Vein was discovered, showing above-average grades. The company is preparing a 2025 mine plan including a new production ramp and underground exploration program.
Kuya Silver has announced significant drilling results from its Silver Kings Project in Ontario. The company intersected high-grade mineralization at the Hammerstrom fault vein, yielding 6.5% cobalt, 1.3% nickel, and 29 g/t silver (1835 g/t AgEq*) over 0.40 m within a wider zone of 863 g/t AgEq over 0.86 m. This represents the widest and highest-grade cobalt-nickel vein drilled by the company to date.
The discovery is located in the Frontier NW area, approximately 20 km from the Campbell-Crawford area. The drilling also identified a second mineralized vein, the McIlwaine vein, located 180 m northeast of the Hammerstrom fault. Both structures remain open along strike and at depth.
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.
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