Aurcana Silver Corporation closed a US$28 million financing deal with Mercuria Energy Group to restart operations at its Revenue-Virginius mine in Colorado.

Target Information

Aurcana Silver Corporation (the "Company" or "Aurcana") has finalized a project financing facility worth US$28 million to facilitate the restart of its wholly-owned Revenue-Virginius mine (the "Revenue Mine"), situated in Ouray, Colorado. The financing has been provided by an indirect, wholly-owned subsidiary of Mercuria Energy Group Limited ("Mercuria"). This arrangement marks a significant step towards reviving the Revenue Mine, which is expected to enhance Aurcana’s production capacity.

The secured term loan serves as a financial backbone for the mine’s operations, complemented by a hedging program that covers roughly 29% of the anticipated silver output over the next five years. The financing will aid in mitigating risks associated with fluctuating silver prices, thereby ensuring financial stability for Aurcana during the operational milestones ahead.

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