05:18 PM EDT, 09/25/2024 (MT Newswires) -- Bunker Hill Mining ( BHLL ) on Wednesday said it closed the US$6.37-million second tranche of a silver loan with Monetary Metals Bond III LLC, in the principal amount of US$6.36 million, equal to 200,000 ounces of silver.

Monetary Metals agreed to loan the company a principal amount up to 1.2 million ounces of silver in support of the re-start and ongoing development of the Bunker Hill Mine.

The company closed on the first, US$16.4-million tranche of the loan in August, equal to 609,805 ounces of silver.

In connection with closing of this Second Tranche, the company will issue a total of 400,000 warrants to Monetary Metals. Each Tranche 2 warrant will entitle the holder to acquire one share of the company at an exercise price of $0.16.

The company's shares closed unchanged at $0.16 on the TSX Venture Exchange.