ExGen Resources has signed a binding letter of intent (LoI) to secure a second silver stream (Silver Stream 2) tied to a formerly producing gold mine in South America. This deal mirrors an earlier agreement by the company, effectively doubling its total silver streaming interest at the site. The new LOI is with an arm’s length private entity (PrivateCo), which plans to acquire the property via an option arrangement with the current owners, a group of private individuals. As per the terms of the LOI, Ex ...

Core Viewpoint - ExGen Resources Inc. has entered into a binding letter of intent to acquire a second silver stream on a past-producing gold mine in South America, which will double its aggregate silver stream on the property [1][3]. Acquisition Details - The company paid US$500,000 for a 33.3% silver stream on the first 333,333 ounces of silver produced and an additional 16.7% on any further silver produced from the property [2]. - The binding LOI stipulates that PrivateCo must deliver a minimum of 4,200 ounces of silver to ExGen each calendar quarter starting from the second quarter of 2027 [6]. Strategic Positioning - The CEO of ExGen stated that securing two silver streams positions the company to capitalize on silver price momentum and build a foundation for future cash flow [3]. - ExGen aims to maintain preferential rights to participate in any future streaming or royalty transactions by PrivateCo on the property [6]. Company Overview - ExGen is a project accelerator focused on funding exploration and development through joint ventures and partnerships, which reduces technical and financial risks while maintaining upside exposure [5]. - The company currently has nine projects in Canada and the US, four NSR royalties in British Columbia, and two silver streams in South America [5].