Bunker Hill upsizes financing to restart Idaho mine, agrees offtake
As a magazine-and-online subscriber to Creamer Media's Engineering News & Mining Weekly, you are entitled to one free research
report of your choice. You would have received a promotional code at the time of your subscription. Have this code ready and click
At the time of check-out, please enter your promotional code to download your free report.
Email firstname.lastname@example.org if you have forgotten your promotional code.
If you have previously accessed your free report, you can purchase additional Research Reports by clicking on the “Buy Report” button on this page.
The most cost-effective way to access all our Research Reports is by subscribing to Creamer Media's Research Channel Africa - you can upgrade your subscription now at this link.
The most cost-effective way to access all our Research Reports is by subscribing to Creamer Media's Research Channel Africa -
you can upgrade your subscription now at this link.
For a full list of Research Channel Africa benefits, click here
If you are not a subscriber, you can either buy the individual research report by clicking on the ‘Buy Report’ button, or you can
subscribe and, not only gain access to your one free report, but also enjoy all other subscriber benefits, including 1) an electronic archive of back issues
of the weekly news magazine; 2) access to an industrial and mining projects browser; 3) access to a database of published articles; and 4) the ability to
save articles for future reference.
At the time of your subscription, Creamer Media’s subscriptions department will be in contact with you to ensure that you receive a copy of your preferred Research Report. The most cost-effective way to access all our Research Reports is by subscribing to Creamer Media's Research Channel Africa - you can upgrade your subscription now at this link.
If you are a Creamer Media subscriber, click here to log in.
CSE-listed Bunker Hill Mining has announced an upsized and improved project finance package with Sprott Private Resource Streaming and Royalty, which would enable the completion of the restart of its namesake mine in Idaho, US.
The company executed a $67-million term sheet with Sprott, increasing its commitment to the mine restart to $96-million.
The package consists of a $46-million multi-metals stream expected to be funded in June, and a commitment for a $21-million new debt facility that will be available for drawdown for two years at the company’s election.
Including the previously funded $8-million royalty convertible debenture, $6-million Series 1 convertible debenture (the CD1), and $15-million Series 2 convertible debenture (the CD2), Sprott Streaming’s total commitment to the Bunker Hill mine restart will increase to $96-million.
“We are excited to announce an upsized and improved project finance package that we expect to backstop the full financing of the Bunker Hill mine restart, materially strengthen our balance sheet and liquidity, and support our TSX-V application.
“This will enable the full-scale recommencement of project activities and allows us to target a restart of the mine and first concentrate production by the end of 2024,” said CEO Sam Ash.
Bunker Hill also announced that a subsidiary of Teck Resources had exercised an option for a minimum five-year, 100% offtake of the mine’s zinc and lead concentrates at its smelter in Trail, British Columbia.
Under new Idaho-based leadership, Bunker Hill intends to restart and develop the Bunker Hill mine as the first step in consolidating a portfolio of North American mining assets with a focus on silver.
The company aims to achieve first concentrate production by the end of 2024.