Highlander Silver (TSX:HSLV) has executed a mandate letter with Natixis CIB for a fully underwritten US$330 million ($468.73 million) senior secured project finance facility.
The 7-year facility will finance development and construction of the Corani Silver Project in Peru. The financing includes a cost overrun facility of up to US$100 million to be established prior to first draw and provided by the company.
As of 30 June 2026, the company reported a cash balance of approximately US$100 million and no debt.
President and CEO Daniel Earle says the facility represents a ‘strong endorsement’ of the Corani project.
“The facility … [provides] high-quality capital that follows a rigorous multidisciplinary due diligence process across key technical, financial, environmental, and social aspects of the project that set it apart from recent peer financings in the high-yield and convertible debt markets,” Earle says.
Highlander retains 100% of offtake rights to preserve optionality and maximise future value amid intensifying global competition for clean concentrates.
The facility remains subject to completion of definitive documentation, which will include customary project finance terms, fees and conditions, credit approvals, and completion of continuing detailed technical, financial, environmental, and social due diligence.
Closing is expected in the first quarter of 2027.
Highlander Silver is a growth company developing a portfolio of advanced-stage assets in Peru.
Write to Paula Fabe at Mining.com.au
Main image: Highlander Silver
