Endeavour Silver (EXK) said Tuesday that its unit, Terronera Precious Metals, has increased its secured credit facility with ING Capital and Societe Generale by $15 million, raising the total to $135 million.
Endeavour said the funds will go toward the commissioning of the Terronera Project in Jalisco, Mexico, as well as general working capital.
Endeavor said that as a condition to funding, Terronera has entered into zero-cost collars to partially manage silver price exposure, protecting prices at a minimum of $31 per ounce while allowing for potential gains of up to $42 per ounce for 968,000 ounces.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.