on Guanajuato Silver Company Ltd. (NASDAQ:GSVRF)
Guanajuato Silver Completes Repayment of Ocean Partners Debt Facility
Guanajuato Silver Company Ltd. (TSXV: GSVR, OTCQX: GSVRF) announced the full repayment of its US$5 million concentrate pre-payment facility with Ocean Partners UK Limited. The company emphasized that this repayment reflects its improving financial position.
Chairman and CEO James Anderson remarked that eliminating this loan will have an immediate positive impact on their monthly economic performance. This financial improvement coincides with the continued ramp-up of Guanajuato Silver's four producing mines, allowing for increased throughput at lower operating costs.
The company still has two outstanding loans. The first is a US$5 million silver and gold pre-payment facility with OCIM Metals & Mining S.A., slated for full repayment by September 2024. The second is a recently expanded gold loan credit facility totaling US$13.3 million with Ocean Partners, with payments starting in June 2024.
According to Anderson, becoming a debt-free silver and gold producer remains the company’s ultimate goal. None of Guanajuato Silver's mines are currently burdened by royalties, enhancing its economic performance and flexibility.
R. P.
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