Vizsla Silver Corp. announced it has executed a mandate letter with Macquarie Bank Limited as lead arranger for a senior secured project finance facility of up to US$220 million. This facility is intended to fund the construction and development of the high-grade underground Panuco silver-gold project in Sinaloa, Mexico. Macquarie will retain a 70% interest and manage syndication of the remaining 30%.
Michael Konnert, President and CEO, stated that securing this debt financing mandate reinforces Panuco as a globally recognized, financeable asset and brings the company closer to de-risking the project into production. The facility, combined with the company's current cash position, is expected to fully fund the Panuco Project through to first silver production.
Subject to definitive credit documentation and customary conditions, an initial US$25 million early-drawdown tranche will provide immediate funding for early development, construction preparation, and working capital. The balance will become available after a feasibility study, equity funding, and permitting, with closing targeted for Q1 2026.
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