PPX Mining Corp. Finalizes Royalty Agreement with Silver Crown Royalties

PPX Mining Corp. has announced the signing of a definitive silver royalty agreement with Silver Crown Royalties Inc. The agreement involves the sale of a royalty for up to 15% of the silver production at PPX's Mina Callanquitas in Peru. This sale will bring aggregate proceeds of $2.47 million. The initial tranche of $1 million is expected by early 2025, while a second tranche of $1.47 million will be paid within six months.

Upon closing, Silver Crown will receive a 6% royalty, increasing to 15% upon the second payment. If this payment isn't completed, PPX retains the right to repurchase the royalty. The deal includes a minimum delivery of 14,062.5 ounces of silver per quarter, up to 225,000 ounces in total. CEO John Thomas highlighted the importance of this funding for ongoing construction and capital needs.