07:20 AM EDT, 05/23/2025 (MT Newswires) -- Generation Mining ( GENMF ) on Friday said it received a receipt of a support letter from a leading Canadian financial institution stating its interest to provide up to $200 million in a new long-term credit facility for the Marathon Copper-Palladium Project, in addition to the senior secured project finance facility to be arranged with the mandated senior lenders.

"We also continue to have access to $200 million of construction financing through our metals streaming agreement with Wheaton Precious Metals Corp., and we continue to have discussions with other corporate, institutional and retail investors, along with other alternative equity providers, to raise the remaining equity or subordinated financing required for construction in the least dilutive manner possible," said Generation Mining ( GENMF ) Chief Executive Jamie Levy.

Shares of the company closed up 13% to $0.265 on Thursday on the Toronto Stock Exchange.