Aftermath Silver Ltd. Boosts Berenguela Project with $1.5M Payment to EMX Royalty Corp.
- Aftermath Silver Ltd. paid US$1.5 million to EMX Royalty Corp., reducing its remaining balance to US$1.65 million.
- The company aims for a 100% interest in the Berenguela project, part of a US$13 million total payment commitment.
- Promising drilling results support Aftermath's focus on advancing the Berenguela project and refining resource estimates.
Aftermath Silver Ltd. Advances Berenguela Project with Significant Payment to EMX Royalty Corp.
Aftermath Silver Ltd. has made a noteworthy strategic move by paying US$1.5 million to EMX Royalty Corp., a critical step in its acquisition of the Berenguela silver-copper-manganese project located in Peru. This early payment reduces the remaining balance owed to EMX to US$1.65 million, which is due in November 2026. The transaction is part of a larger agreement initiated with SSR Mining Inc., which involves a total payment commitment of US$13 million. By fulfilling this financial obligation ahead of schedule, Aftermath positions itself favorably as it seeks to secure a 100% interest in the Berenguela project.
The financial maneuver aligns with Aftermath Silver's strategic vision for the Berenguela project. With the recent payment, the company continues to demonstrate its commitment to the project, which involves a phased payment plan that includes a previous installment of US$3 million made in May 2025. Following the completion of these payments, Aftermath will also be obligated to pay a sliding-scale net smelter return (NSR) royalty based on mineral production. This royalty begins at 1.0% when silver prices remain below US$25 per ounce and escalates to 1.25% when silver prices exceed that threshold alongside copper prices rising above US$2 per pound.
Aftermath Silver's President and CEO, Ralph Rushton, acknowledges the cooperation of EMX Royalty Corp. in adjusting the agreement terms to facilitate this payment. Rushton emphasizes the company's focus on advancing the Berenguela project, which is expected to include an updated NI43-101 mineral resource estimate. Recent drilling activities at Berenguela have yielded promising results, with a notable intersection of 153 meters of mineralization averaging 1.12% copper, 290 grams per tonne of silver, and 7% manganese. These findings indicate the project's potential and align with Aftermath's goal of developing quality mining resources in a favorable market environment.
In addition to securing its financial commitments, Aftermath Silver is concentrating on enhancing its exploration and development efforts at Berenguela. The company is poised to leverage its recent drilling successes as it continues to refine its resource estimates and advance the project toward production.
As Aftermath Silver progresses with its plans, the mining industry watches closely, recognizing the significance of the Berenguela project as a valuable asset in the evolving landscape of silver and copper production in Peru.