09:15 AM EDT, 03/25/2025 (MT Newswires) -- Bunker Hill Mining ( BHLL ) on Tuesday said it made progress and enhancements to its capital restructuring and equity financing initiative, previously announced on March 6.

The company made the changes to ensure the Bunker Hill Zinc-Silver-Lead Mine in the Silver Valley, Idaho, remains on track for commissioning and operations in the second half of 2025, with nameplate 1,800 tons per day production expected in the first half of 2026.

Bunker Hill said Teck Resources (TECK.N) will now provide a lead commitment of US$10 million in funding by means of a lead order and promissory note, and additional equity thereafter alongside the brokered private placement offering. The company is targeting US$10-15 million of new equity in the brokered private placement offering, and the order book is set to close on Mar. 27.

The mining company increased the term of the warrants issuable related to the private placements, from a period of 12 months to a period of three years following the date of issuance.

Sprott Streaming and Royalty agreed to convert an additional US$6 million of outstanding debt into equity, for a total of US$21 million, in addition to the US$6.1 million to be settled with Sprott, as announced in the company's news release of Mar. 6.

BNKR also said it intends to enter into agreements with certain creditors, related to its capital restructuring and equity financing initiative, to settle outstanding receivables in the aggregate amount of up to US$4 million in exchange for equity in the company at the offering price.