Silver Crown Royalties Increases Stake in Brazilian Silver Project
TORONTO, ON -- August 13, 2024 -- NewsGenie -- Silver Crown Royalties Inc. (SCRi) has exercised its option to increase its royalty to 90% of the net proceeds from silver sales at the PGDM complex in Goias State, Brazil. The agreement, amended on April 26, 2024, is with Pilar Gold Inc. and its Brazilian subsidiary.
SCRi paid Pilar US$1,310,000 to raise the net smelter return royalty from 31%. This capital injection will enable Pilar to pursue productivity enhancements, while Silver Crown Royalties benefits from an increased revenue stream.
Peter Bures, CEO of Silver Crown, stated, "We’re excited to expand our partnership with Pilar by increasing our royalty to 90%. We believe the capital will enable Pilar to ramp up operations, benefiting SCRi beyond the minimum quarterly payment of 4,000 ounces of silver."
Jeremy Grey, CEO of Pilar, added, "This capital should allow us to achieve self-sustaining throughput, paving the way for a successful operation. We thank SCRi for their support."
Silver Crown Royalties Inc. is a revenue-generating silver royalty company focused on silver as byproduct credits. The company aims to minimize the economic impact on mining projects while maximizing shareholder returns.
Contact: Peter Bures, Chairman and CEO, Silver Crown Royalties Inc., (416) 481-1744, pbures@silvercrownroyalties.com