Toronto – January 2, 2024 – PPX Mining Corp. (together with its Peruvian subsidiaries – the “Company” or “PPX”). Further to our press release dated September 20, 2023 (the “Initial PR”), PPX is pleased to announce that on December 29, 2023 the Company and a major shareholder subscribed the Definitive Agreement for a US$ 6,000,000 debt facility to fund most of the capital cost for the CIL and flotation plant that the Company intends to build in its Igor Project (the “Project”), located in La Libertad, Peru. The plant will process oxides and sulfides currently mined from its high-grade Callanquitas Mine, and other important satellite deposits that constitute part of the Project in the near future. Terms and conditions summarized in the Initial PR.
Brian Imrie, Executive Chairman commented “we are delighted to conclude the Definitive Agreement with our largest shareholder to fund the construction of our processing plant. This major milestone will allow the Company to process, at a very low cost, the ore extracted from its Igor Project”.
About PPX Mining Corp:
PPX Mining Corp. (TSX.V: PPX.V, BVL: PPX) is a Canadian-based mining company with assets in northern Peru. Igor, the Company’s 100%-owned flagship gold and silver project, is located in the prolific Northern Peru gold belt in eastern La Libertad Department.
On behalf of the Board of Directors
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