Americas Gold and Silver Secures $100M Financing and Offtake Deal to Boost Galena Project

Published: Jun 4, 2025 23:36

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[Americas Gold and Silver Secures US$100M Financing and Offtake Agreement to Advance Galena Project]

On June 3, Americas Gold and Silver Corporation announced a transformational US$100 million senior secured debt financing and a multi-metal concentrate offtake agreement with Ocean Partners, as it accelerates development at the Galena Complex in Idaho.

The financing will be provided in three tranches: an initial US$50 million disbursed at closing, followed by two additional tranches of US$25 million each, aligned with the project’s capital development timeline. Proceeds will be used to support Galena’s expansion, including the reintroduction of long hole stoping, upgrades to the No. 3 shaft, and optimization of underground material handling systems.

Under the offtake agreement, Ocean Partners will have the right to purchase up to 100% of Galena’s polymetallic concentrates—containing silver and lead—for processing at Teck Resources’ Trail Operations in British Columbia. The Trail facility, one of the world’s largest fully integrated zinc, lead, and critical metals complexes, offers strategic proximity and robust capacity to support Galena’s planned production growth.

Teck and Ocean Partners expressed strong confidence in the partnership’s long-term value and its role in strengthening North America’s critical minerals supply chain.

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