Sierra Madre Gold & Silver Ltd. (TSE:SM) has released an update.
Sierra Madre Gold & Silver Ltd. has secured a US$5 million loan from First Majestic Silver to finalize the preparations at the La Guitarra mine complex. The loan, which is to be repaid over two years with a 15% interest rate, will fund critical equipment purchases, processing facility upgrades, and staffing to ready the mine for a potential operational restart. This strategic move aims to advance Sierra Madre’s mission to resume mining activities at the fully permitted La Guitarra, which ceased operations in mid-2018.
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