Silver Developer on Solid Path to Restart Idaho Mine

This silver miner is on a fast tempo to restart manufacturing at its Bunker Hill Mine within the historic Coeur d’Alene Silver District in Idaho.

Echelon Capital Markets Mining Analyst Ryan Walker, MSc., commented in a Feb. 22 analysis report that following Bunker Hill Mining Corp.’s (BNKR:CSE; BHLL:OTCMKTS) current acquisition of the Bunker Hill mine, the analysis agency is transitioning its protection on the corporate from its “Watch Listing” and now charges the agency as a “Speculative Purchase.”

The Bunker Hill mine is situated within the cities of Kellogg and Wardner of Shoshone County, Idaho, throughout the historic Coeur d’Alene silver mining district. The analyst acknowledged that Bunker Hill Mining Corp. continues to maneuver ahead with its Speedy Restart plan and is making progress on a number of fronts in de-risking the venture.

Bunker Hill Mining is actively targeted on restarting manufacturing on the Idaho Ag-Pb-Zn property, which in accordance with the analyst from 1887 to 1991 produced 165 Moz Ag, 3.0 Mt Pb and 1.3 Mt Zn. Walker mentioned that apart from the close by Sunshine and Galena mines, among the largest recoveries have been made on the Bunker Hill Mine in a district which to date has delivered in extra of 1.2 Boz Ag.

The corporate purchased the Bunker Hill Mine in December 2021 from Placer Mining Corp. for US$5.4 million. On the time of closing, Bunker Hill Mining entered right into a US$50 million financing association with Sprott Non-public Useful resource Streaming and Royalty Corp. and concurrently agreed to a take care of each the U.S. Environmental Safety Company (EPA) and Idaho Division of Environmental High quality (IDEQ) to restart operation on the mine.

Beneath the negotiated phrases, the EPA agreed to defer $17 million of the EPA’s $19 million price restoration declare which the corporate settled to be paid from free money move anticipated to be realized in 2024 to 2029. The agency has already paid the $2.0 million stability and agreed to pay extra excellent prices totaling $2.9 million inside 90 days of closing.

The corporate introduced in January 2022 that it signed a non-binding memorandum of understanding (MoU) to buy the Pend Oreille Mill situated about 145 miles away in Washington state from Teck Sources. The acquisition is anticipated to vastly assist within the de-risking the event timeline and as a result of its proximal location will assist insulate the agency from increased inflationary prices. If the corporate is profitable in closing the deal, the acquisition would give Bunker Hill Mining the majority of the capital gear wanted to restart mine operations thus leading to vital de-risking.

The MoU states that Teck Sources can have the choice of receiving $2.75 million in money or $3.0 million in a mix money and inventory (BNKR shares) deal.

Echelon Capital famous that Teck’s Path smelter in British Columbia might maybe be a great dwelling for Bunker Hill’s deliberate concentrates and will supply a broader path for the 2 corporations to work collectively sooner or later.

As well as, the analyst suggested that the corporate lately agreed to a service contract with Coeur d’Alene Mine Contracting (CMC) by means of year-end 2023 for underground mining and growth.

Echelon acknowledged that the corporate’s govt administration staff brings monumental expertise and listed that Bunker Hill’s Govt Chairman beforehand served as chief working officer at Barrick Gold and its present chief govt officer is the previous govt basic supervisor of Barrick’s Lumwana copper mine in Zambia.

The analyst highlighted that “an funding in Bunker Hill Mining Corp. affords traders publicity to the potential restart (and related potential share re-rating on transitioning to producer standing) and exploration in and across the lately acquired and like-named Ag-Pb-Zn mine in Idaho’s prolific Coeur d’Alene Silver District.”

Bunker Hill Mining Corp. is concentrated totally on sustainably restarting manufacturing and additional creating the Bunker Hill Mine. Echelon Capital acknowledged that the corporate sees this as “step one in consolidating a portfolio of North American precious-metal belongings with a give attention to silver.”

Echelon Capital Markets suggested that it’s transitioning it protection of Bunker Hill Mining Corp. from its “Watch Listing” to full protection with a “Speculative Purchase” score and CA$0.60 per share goal value. The agency’s shares commerce underneath the image “BNKR” on the Canadian Securities Alternate and final closed for buying and selling at CA$0.34/share on Monday, March 7, 2022.


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