07:17 AM EST, 02/04/2025 (MT Newswires) -- Bunker Hill Mining ( BHLL ) on Tuesday said it received the final US$6 million tranche, under the senior secured credit facility with Sprott Private Resource Streaming and Royalty.

Sprott has already advanced US$15 million under the facility, to help develop the Bunker Hill Mine in Idaho.

The company remains on track to issue an updated mineral estimate in the first quarter, with a full report expected to be published in April.

Bunker Hill is advancing its application for financing by the U.S. export credit agency, EXIM Bank, and will present its formal application in March. The company was issued a letter of intent for US$150 million in debt finance by the Bank last October. If successful, the funds will be used to expand production, increase the life of mine, and retire certain high-cost elements of existing debt finance.

"We are making steady progress in our strategic financing discussions and continue to advance the Bunker Hill Mine restart with Sprott Streaming's crucial and consistent support. All parties are excited by the ability of this investment to create new American mining jobs, thereby helping to increase the reliable supply of American metal at this critical time. Although it should be noted that the time taken to conclude any financing deal will likely push the start of commercial operations into H2 2025," said Sam Ash, president and chief executive.