Silver X Mining Corp (TSXV: AGX) has secured a US$2M prepayment loan facility from Trafigura PTE Ltd to support enhanced copper production at its Nueva Recuperada project in Peru. The unsecured loan, structured in tranches, bears interest at SOFR + 6% and matures over a 20‑month period.
As part of the agreement, Silver X will issue 2.5M warrants to Trafigura, exercisable over 25 months at a 25% premium to the 20‑day VWAP on the TSXV. Trafigura will also offtake 100% of the copper concentrate produced at Nueva Recuperada through April 2029.
The funds are earmarked to support development of a third flotation circuit and overall mine operations, bolstering Silver X’s strategy to scale copper and silver output. The transaction remains subject to final documentation and TSX Venture Exchange approval.
This financing agreement enhances working capital without immediate share dilution and highlights growing commercial backing for Nueva Recuperada’s expansion into increased copper concentrate production.
For more information, please visit www.silverxmining.com
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