Silver X Mining Secures a US$2M Loan Facility with Trafigura for the Production of Additional Copper Concentrates
Silver X Mining (OTCQB:AGXPF) has secured a US$2 million prepayment facility and copper offtake agreement with Trafigura for its Nueva Recuperada project. The facility will be drawn in tranches with a SOFR plus 6% interest rate and a 20-month repayment term.
As part of the deal, Silver X will issue 2.5 million warrants with a 25-month exercise period at a 25% premium to the 20-day VWAP. The expanded offtake agreement requires Silver X to sell 100% of copper concentrate to Trafigura through April 2029. Funds will be used for implementing a third flotation circuit and mine development.
Silver X Mining (OTCQB:AGXPF) ha ottenuto una linea di anticipo di pagamento di 2 milioni di dollari USA e un accordo di vendita di rame con Trafigura per il progetto Nueva Recuperada. La linea di credito sarà erogata in tranche con un tasso di interesse pari a SOFR più il 6% e un termine di rimborso di 20 mesi.
Come parte dell'accordo, Silver X emetterà 2,5 milioni di warrant con un periodo di esercizio di 25 mesi e un premio del 25% rispetto alla VWAP a 20 giorni. L'accordo di vendita ampliato obbliga Silver X a vendere il 100% del concentrato di rame a Trafigura fino ad aprile 2029. I fondi saranno utilizzati per l'implementazione di un terzo circuito di flottazione e per lo sviluppo della miniera.
Silver X Mining (OTCQB:AGXPF) ha asegurado una facilidad de prepago de 2 millones de dólares y un acuerdo de compra de cobre con Trafigura para su proyecto Nueva Recuperada. La facilidad se desembolsará en tramos con una tasa de interés SOFR más 6% y un plazo de reembolso de 20 meses.
Como parte del acuerdo, Silver X emitirá 2.5 millones de warrants con un período de ejercicio de 25 meses y una prima del 25% sobre el VWAP de 20 días. El acuerdo ampliado de compra requiere que Silver X venda el 100% del concentrado de cobre a Trafigura hasta abril de 2029. Los fondos se destinarán a implementar un tercer circuito de flotación y al desarrollo de la mina.
Silver X Mining (OTCQB:AGXPF)는 Nueva Recuperada 프로젝트를 위해 Trafigura와 200만 달러 선지급 시설 및 구리 구매 계약을 확보했습니다. 해당 시설은 SOFR에 6% 이자를 더한 금리로 분할 인출되며 상환 기간은 20개월입니다.
계약의 일환으로 Silver X는 20일 VWAP 대비 25% 프리미엄으로 25개월 행사 기간을 가진 250만 워런트를 발행할 예정입니다. 확장된 구매 계약에 따라 Silver X는 2029년 4월까지 구리 농축액 100%를 Trafigura에 판매해야 합니다. 자금은 세 번째 부유선 회로 도입 및 광산 개발에 사용됩니다.
Silver X Mining (OTCQB:AGXPF) a obtenu une facilité de prépaiement de 2 millions de dollars US et un accord d'achat de cuivre avec Trafigura pour son projet Nueva Recuperada. La facilité sera tirée par tranches avec un taux d'intérêt SOFR plus 6 % et une durée de remboursement de 20 mois.
Dans le cadre de l'accord, Silver X émettra 2,5 millions de bons de souscription avec une période d'exercice de 25 mois à une prime de 25 % par rapport au VWAP sur 20 jours. L'accord d'achat étendu oblige Silver X à vendre 100 % du concentré de cuivre à Trafigura jusqu'en avril 2029. Les fonds seront utilisés pour la mise en place d'un troisième circuit de flottation et le développement de la mine.
Silver X Mining (OTCQB:AGXPF) hat eine 2-Millionen-US-Dollar-Vorauszahlungsfazilität und einen Kupferabnahmevertrag mit Trafigura für sein Projekt Nueva Recuperada gesichert. Die Fazilität wird in Tranchen mit einem Zinssatz von SOFR plus 6 % und einer Rückzahlungsfrist von 20 Monaten abgerufen.
Im Rahmen der Vereinbarung wird Silver X 2,5 Millionen Warrants mit einer Ausübungsfrist von 25 Monaten zu einem Aufschlag von 25 % auf den 20-Tage-VWAP ausgeben. Der erweiterte Abnahmevertrag verpflichtet Silver X, 100 % des Kupferkonzentrats bis April 2029 an Trafigura zu verkaufen. Die Mittel werden für die Implementierung eines dritten Flotationskreislaufs und die Minenentwicklung verwendet.
- Secured non-dilutive US$2M financing facility with favorable terms
- Strategic partnership with major trading firm Trafigura validates project potential
- Guaranteed buyer for 100% of copper concentrate production through 2029
- Funds enable expansion with third flotation circuit installation
- Additional debt burden with SOFR plus 6% interest rate
- 2.5M warrants issuance could lead to future dilution if exercised
- Long-term commitment to single buyer through 2029 may limit pricing flexibility
VANCOUVER, BC / ACCESS Newswire / June 24, 2025 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX) ("Silver X" or the "Company") is pleased to announce it has secured a US
"The execution of this expanded offtake agreement with Trafigura marks a key milestone for Silver X, positioning us to unlock meaningful value from our growing production profile. This transaction reflects Trafigura's confidence in our ability to deliver as a reliable and scalable producer in Peru," stated Jose Garcia, CEO of Silver X.
"For our investors, this agreement not only strengthens our balance sheet through access to flexible capital but also supports the acceleration of development at our project, particularly on mine development and the construction of a third flotation circuit. We continue to work on financing our imminent growth, focusing on non-dilutive funding to avoid or minimize shareholders dilution going forward. We anticipate additional positive news soon."
Transaction Details
The US
Under the terms of the expanded Offtake agreement, Silver X will sell
Completion of the transaction is subject to, among other things, execution of definitive documentation and TSX Venture Exchange acceptance.
About Trafigura
Trafigura is a leading commodities group, owned by its employees and founded 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. It deploys infrastructure, market expertise and a worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed, forming strong relationships that make supply chains more efficient, secure and sustainable. Trafigura invests in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through H2Energy Europe and joint venture Nala Renewables.
The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, and the Impala Terminals joint venture. The Group employs over 12,000 people and is active in 156 countries. Visit: www.trafigura.com.
About Silver X
Silver X is a rapidly growing silver producer-developer. The Company owns the 20,472-hectare Nueva Recuperada Silver Project in Central Peru and produces silver, gold, lead and zinc from its Tangana Mining Unit. Silver X is building a premier silver company aiming to deliver outstanding value to all stakeholders, consolidating and developing undervalued assets, adding resources, and increasing production while aspiring to sustain the communities that support us and stewarding the environment. Current production, paired with immediate development and brownfield expansion opportunities, present investors with the opportunity to invest in the early stages of a silver producer with strong growth prospects. For more information visit our website at www.silverxmining.com.
ON BEHALF OF THE BOARD
José M. García
CEO and Director
For further information, please contact:
Kaitlin Taylor
Investor Relations
ir@silverxmining.com
+1 778 887 6861
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding "Forward-Looking" Information
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation ("forward-looking information"). Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain acts, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this press release, other than statements of current and historical fact, is forward looking information. Forward- looking information contained in this press release may include, without limitation, expectations regarding the ability of the Company to complete the Facility and to meet the conditions for the second drawdown, expected use of proceeds from the Facility, the plans to complete a third floatation circuit, the ability of the Company to produce copper concentrate and satisfy the repayment terms of the Facility, exploration and development plans, results of operations, expected performance at the Project, the Company's belief that the Tangana system will provide considerable resource expansion potential, that the Company will be able to mine the Tangana Mining Unit in an economic manner, and the expected financial performance of the Company.
The following are some of the assumptions upon which forward-looking information is based: that general business and economic conditions will not change in a material adverse manner; demand for, and stable or improving price for the commodities we produce; receipt of regulatory and governmental approvals, permits and renewals in a timely manner; that the Company will not experience any material accident, labour dispute or failure of plant or equipment or other material disruption in the Company's operations at the Project and Nueva Recuperada Plant; the availability of financing for operations and development; the Company's ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; that the estimates of the resources at the Project and the geological, operational and price assumptions on which these and the Company's operations are based are within reasonable bounds of accuracy (including with respect to size, grade and recovery); the Company's ability to attract and retain skilled personnel and directors; and the ability of management to execute strategic goals.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the Company's annual and interim MD&As and in its public documents filed on www.sedarplus.ca from time to time. Forward- looking statements are based on the opinions and estimates of management as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE: Silver X Mining Corp.
View the original press release on ACCESS Newswire
FAQ
What are the terms of Silver X Mining's (AGXPF) loan facility with Trafigura?
How long is Silver X Mining's copper offtake agreement with Trafigura?
How will Silver X Mining use the US$2M facility proceeds?
What warrants is Silver X Mining (AGXPF) issuing as part of the Trafigura deal?
