Monetary Metals announced on November 12, 2024, the delivery of over 1 million ounces in silver bond financing to Bunker Hill Mining Corporation. This silver bond has a three-year duration, with the principal denominated in silver, and pays investors an annual coupon of 12% in silver.
The proceeds from this financing are designated to support the rapid re-start and ongoing development of the Bunker Hill Mine in Kellogg, Idaho. As of November 12, 2024, Monetary Metals has delivered 1,008,581 ounces of silver out of a total agreement to loan up to 1.2 million ounces.
This transaction is a significant milestone, representing the first silver bond issuance in over 200 years, following Monetary Metals' first gold bond issuance in 2020. This innovative financing approach provides non-dilutive capital, aligning with Bunker Hill's vision for sustainable and responsible mining.
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