- Kuya Silver (KUYA) has agreed to a term loan for gross proceeds of $300,000
- The loan will mature in 12-months and carry a monthly interest rate of 4 per cent
- Kuya Silver has agreed to issue 450,000 common share purchase warrants to the lenders
- Kuya’s goal remains to build a 350-tpd processing facility the Bethania Silver Project, but the company is evaluating toll-milling at Bethania prior to construction
- Kuya Silver is a Canada‐based mineral exploration and development company
- Kuya Silver Corp. (KUYA) opened trading at C$0.47
Kuya Silver (KUYA) has agreed to a term loan for gross proceeds of $300,000.
The loan will mature in 12-months and carry an interest rate of 4 per cent, accrued monthly, with interest becoming due and payable at the end of the term.
Kuya Silver has agreed to issue 450,000 common share purchase warrants to the lenders. Each warrant will entitle the holder to purchase one common share at a price of $0.47.
Kuya’s goal for the Bethania Silver Project remains to build a 350-tpd processing facility. However, management has decided to focus on reviewing options that will add further value to the project, until conditions are supportive for raising the required funds and making a construction decision. Kuya is evaluating the opportunity to conduct toll-milling at Bethania prior to construction, which could generate near-term cash flow while de-risking the mining operation by providing valuable production experience, and advancing the underground development required for eventual full-scale production.
The company’s President and CEO David Stein commented on the news.
“The management team has worked hard to add value to its 100 per cent-owned Bethania Silver Project, bringing it closer to the construction phase and assembling a much larger land position surrounding the mine in the Bethania district. We believe that the value of this exciting silver asset is there to be unlocked and we are well-positioned to achieve rapid growth, in production and cash flow, and in exploration, as the markets improve.”
Kuya Silver is a Canada‐based mineral exploration and development company with a focus on acquiring, exploring, and advancing precious metals assets in Peru and Canada.
Kuya Silver Corp. (KUYA) opened trading at C$0.47.