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Financings

Silver Storm Enters Into US$7.0M Offtake Financing With Samsung C&T for Restart of La Parrilla Silver Mine Complex

By The Northwire Desk — AI Analysis Oct 10, 2025 · 07:00 SVRS · 0.228 Silver Storm Mining Ltd.
SVRS · Price

Executive Summary

  • Silver Storm Mining entered a definitive off‑payment financing agreement with Samsung C&T subsidiaries for up to US $7.0 million to restart operations at the La Parrilla Silver Mine Complex.
  • The facility carries an interest rate of SOFR + 4.75% and provides 18 months of funding, with repayment over 12 months after a six‑month grace period; repayments may be made via deductions from concentrate sales.
  • Samsung receives an exclusive two‑year off‑take right to purchase 100 % of the lead‑silver and zinc concentrates produced at La Parrilla.

Key Details

  • Facility Size: US $7.0 million prepaid financing facility, available for 18 months.
  • Interest Rate: 1‑Month SOFR + 4.75%.
  • Repayment Terms: Six‑month interest and principal grace period; thereafter equal monthly installments over a 12‑month period, payable in cash or by deduction from concentrate sales.
  • Security: Corporate guarantee, share pledge, and first‑ranking security on La Parrilla assets.
  • Offtake Arrangement: Samsung entitled to purchase 100 % of lead‑silver and zinc concentrates from La Parrilla for two years; drawdown subject to customary conditions precedent.
  • Use of Proceeds: Mill rehabilitation and upgrade, underground development, and working capital for the restart of La Parrilla operations.
  • Management Comment: President & CEO Greg McKenzie stated the agreement is a key step toward transitioning Silver Storm into an operating entity and provides confidence from a leading industry partner.
  • Additional Notice: Cancellation of 500,000 stock options previously announced on October 2 2025; these options will not be issued.

Notable Quotes

“The Agreement with Samsung represents a key step in our strategic vision of transitioning the Company into an operating entity… Samsung’s involvement as a guaranteed purchaser for the concentrates reflects the confidence of a leading industry participant in our path forward.” – Greg McKenzie, President & CEO.

Read the original news release →

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Silver Storm shipped its first concentrate from the La Parrilla sulphide circuit, marking a step toward the 1,250 tpd ramp-up.

Production / Operations