A vew of the Panuco project area. Credit: VIzsla Silver.
Canadian miner Vizsla Silver (TSX, NYSE: VZLA) hired Australia’s Macquarie Bank as lead arranger of a $220 million maximum financing package for the construction and development of the Panuco silver-gold project in Mexico.
Macquarie is to act as sole underwriter of the project finance facility, keeping a 70% interest and syndicating the rest, according to a Vizsla statement released Friday. Macquarie will be responsible for coordinating the syndication process and ongoing project monitoring.
Combined with about $200 million of cash on the company’s balance sheet following an equity financing in June, “Vizsla is well positioned to fully fund the $224 million capex estimate from the Panuco preliminary economic assessment,” BMO Capital Markets analyst Kevin O’Halloran said in a note.
News of the financing package comes as Vizsla works on…
