What's Happening?
PPX Mining Corp., a Canadian-based mining company, has secured a final payment of US$637,000 from Silver Crown Royalties Inc. as part of their silver royalty agreement. This payment will support the construction
of a carbon-in-leach and flotation plant at the Igor project in Peru. The completion of this payment increases the royalty percentage to 15% and total payable ounces to 225,000 ounces of silver, strengthening PPX's financial position and aiding its strategy to advance the Igor project toward production.
Why It's Important?
The final payment from the silver royalty agreement is crucial for PPX Mining as it provides the necessary financial resources to continue developing the Igor project. This advancement is expected to enhance stakeholder value and potentially increase the company's production capacity. The successful execution of this agreement could position PPX Mining as a significant player in the mining industry, particularly in the Northern Peru gold belt, thereby attracting more investors and boosting its market presence.