Americas Gold And Silver Signs Credit And Off-Take Agreement For EC120 Project; Agreement Provides The Co With A Secured Credit Facility Of Up To $15M To Complete The Pre-Production Development
Portfolio Pulse from Benzinga Newsdesk
Americas Gold and Silver Corporation (NYSE: USAS) has signed a Credit and Off-Take Agreement with Trafigura PTE Ltd. for the development of its EC120 Project. The agreement provides a secured credit facility of up to $15 million to complete pre-production development, with initial draws expected to be $10 million. The project is anticipated to begin producing high-grade silver-copper concentrate by Q3-2025, significantly boosting the company's silver revenue.
August 14, 2024 | 9:15 pm
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Americas Gold and Silver Corporation has secured a $15 million credit facility to develop its EC120 Project, expected to significantly increase silver revenue by Q3-2025.
The secured credit facility ensures the necessary funding for the EC120 Project, which is projected to significantly increase the company's silver revenue. This development is likely to positively impact the stock price in the short term as it strengthens the company's financial position and future revenue prospects.
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