James Anderson, Chairman & CEO, said, “The expanded credit facility will provide enhanced financial flexibility as we look to expand production throughout 2024 at all four of our producing silver mines in Mexico.”
The Company restarted mining operations at Velardeña in late December 2023, with the goal of progressively increasing production at the mine during the first half of 2024 until it achieved positive cash flow. The initial performance of the mine and processing plant during the course of the initial several months of production has not achieved the results projected by the Company.
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