Endeavour Silver Closes US$120 Million Project Loan Debt Facility to Advance the Development of Terronera
Endeavour Silver Corp., a leading mid-tier precious metals mining company, is making significant strides towards the development of its Terronera Project in Mexico. The company’s wholly-owned subsidiary, Terronera Precious Metals, S.A. de C.V., has successfully executed a credit agreement for a senior secured debt facility of up to $120 million. This milestone achievement comes as Endeavour Silver continues to prioritize shareholder value and execute its strategic vision for sustainable growth and positive community impact.
The credit agreement has been established with ING Capital LLC and Societe Generale, renowned financial institutions with extensive experience in project financing within the mining industry. Their support and partnership will play a crucial role in advancing the Terronera Project, which involves the construction of an underground mine and mill in Jalisco state, Mexico.
Endeavour Silver’s CEO, Dan Dickson, expressed his gratitude for the collaboration with ING and Societe Generale, highlighting their status as tier one lenders in the mining industry. He emphasized the company’s commitment to unlocking the project’s potential and reaping the benefits of economic growth, environmental responsibility, and local development.
The Debt Facility will be utilized to fund the construction of the Terronera Project, with drawdowns expected to commence in 2024. The project’s construction period is estimated to span 21 months, with initial production anticipated in the fourth quarter of 2024. This timeline demonstrates Endeavour Silver’s dedication to delivering results efficiently and meeting its projected milestones.
Artemis Capital Advisors, a reputable financial advisory firm specializing in the metals and mining sectors, played a crucial role in assisting Endeavour Silver as its financial advisor. The collaboration between Artemis Capital Advisors and Endeavour Silver ensures that the project’s financing needs are met effectively, leveraging their expertise and experience in securing funding for mining projects.
Endeavour Silver’s commitment to corporate social integrity is evident in its efforts to create value for all stakeholders. The company’s philosophy extends beyond financial success, emphasizing responsible mining practices and fostering positive relationships with local communities. By prioritizing sustainability and community development, Endeavour Silver aims to establish itself as a premier senior silver producer.
The Terronera Project aligns with the company’s strategic vision, and its successful development will contribute to Endeavour Silver’s growth trajectory. As the project progresses towards production, the company looks forward to realizing its full potential and continuing to make a positive impact in the mining industry.
For more information about Endeavour Silver Corp. and its projects, please visit their official website. Stay updated with the latest news and developments by following Endeavour Silver on Facebook, Twitter, Instagram, and LinkedIn.