PPX Mining amends royalty deal with Silver Crown

Executive Summary

• PPX Mining Corp. and Silver Crown Royalties Inc. amended the second‑tranche payment terms of their silver royalty agreement, splitting a $1.47 M obligation into an immediate $833 k payment and a deferred $637 k payment due by Dec. 31 2025.
• The amendment increases the royalty percentage to 11.1 % (up from 6 %) and total payable ounces to 166,500 oz of silver; it will rise further to 15 % and 225,000 oz once the remaining payment is made.
• Proceeds are earmarked to fund construction of the carbon‑in‑leach (CIL) and flotation plant at PPX’s Igor project in La Libertad, Peru.

Key Details

• Original second‑tranche price: $1.47 million USD payable by Aug. 6 2025.
• Amended payment schedule: $833,000 paid immediately; remaining $637,000 due on or before Dec. 31 2025.
• Use of proceeds: support ongoing construction of the CIL and flotation plant at the Igor project (Peru).
• Royalty percentage increase: from 6 % to 11.1 % (pro‑rata 5.1 % uplift) upon partial payment; will rise to 15 % after full payment (additional 3.9 %).
• Payable silver ounces: increased to 166,500 oz (up 76,500 oz) now; will reach 225,000 oz (up an additional 58,500 oz) after final payment.
• Minimum royalty commencement date extended from Oct. 1 2025 to Mar. 31 2026, subject to earlier start upon plant startup.
• Reference prior disclosures: press releases dated Dec. 16 2024 and Feb. 6 2025 (first‑tranche closing).

Notable Quotes

(No direct quotes provided in the release.)