Empress Royalty Corp.: Empress Funds Silver Stream on the Tahuehueto Project in Mexico /
Empress or the
Company ) is pleased to announce it has funded the initial payment of US$2M of the US$5M silver stream agreement (the Stream ) on the Tahuehueto project in Mexico owned by Telson Mining Corporation (
Telson ).
As announced on April 16, 2021, Empress executed the Stream agreement on production of
100% of the payable silver production from Telson s Tahuehueto for the first 1,250,000 payable ounces, thereafter, the percentage will step-down to 20% of the payable silver production to a maximum of 10 years from first production after which the Stream terminates.
Telson Mining Corporation: Telson Negotiates Escorfin Loan Restructure
Telson or the
Company ) announces that as part of its debt restructuring initiative it has finalized terms on the first of several of its loan agreements to be restructured.
Telson will be restructuring debt owed to Estrategica Corporativa en Finanzas, S.A.P.I de C.V. ( Escorfin ) that was originally issued under a Mexican Peso line of credit agreement dated July 22, 2016. As previously disclosed Telson was not able to meet its contractual repayment obligations to Escorfin and therefore, is in default on the line of credit balance in the equivalent amount of approximately USD $3,100,000, (MXP $64,701,921) including principal and interest. The debt is proposed to be restructured by converting the Mexican Peso balance into USD $ at current exchange rates. New restructured terms include interest at 10% per annum, with a 36-month term of repayment and a 12-month grace period on both principal and interest. In c
NA Proactive news snapshot: One World Lithium, Recruiter.com Group, Aion Therapeutic, Nextleaf Solutions, Phyto Extractions UPDATE …
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One World Lithium Inc (CSE:OWLI) (OTCMKTS:OWRDF) announced it had started drilling the third hole of a four-hole drill program as part of its Phase Three program at the Salar del Diablo lithium brine property in Mexico. Drilling at DDH-3 (diamond drill hole) will occur 24 hours a day, the company said in a release. DDH-3 is 50 kilometres south of DDH-2. Depending upon the results, OWL said it may sink more diamond drill holes in the “immediate” area.
Golden Minerals: Ready for a golden era from developer to producer
Golden Minerals (NYSEAMERICAN:AUMN) (TSX:AUMN) is analysed by Proactive Mining analyst Ryan Long who says the company has made a transition from developer to producer, and is currently ramping up production levels at its open pit Rodeo Gold-Silver Mine, located in Durango State, Mexico.
Long says at present Rodeo has a short mine life, of 2.5 years, but with a 2,000 drill programme currently underway, testing near-surface targets located immediately adjacent to the current open pit, Golden Minerals is confident that the mine life will be expanded.
Quick facts: Golden Minerals Company