The MXN$173 million facility from FIFOMI will fund development of the Panuco project in Sinaloa over five years.
Vizsla Silver Corp. (VZLA) secured a $10 million unsecured working capital facility from Mexican government-backed lender FIFOMI. The funding, equivalent to MXN$173 million, supports the Panuco silver-gold project in Sinaloa, Mexico, with a five-year term and a two-year principal repayment grace period.
The facility carries an interest rate tied to the TIIE funding rate plus a 4.6681% margin. Funds will cover operating expenses and working capital, advancing the company’s dual-track strategy of mine construction and exploration. The agreement underscores the project’s economic significance to the region.
CEO Michael Konnert highlighted the partnership as validation of Panuco’s role in Mexico’s mining sector. The deal aligns with Vizsla Silver’s goal to accelerate development while maintaining district-scale exploration efforts.