There were a number of stocks that had gained strong momentum on Monday, and one of those was the Bunker Hill Mining Corp. (OTC:BHLL) stock. The momentum was triggered by a key announcement from the company, and it could be a good move to take a look into that.
Letter of Intent Receipt
The company hit the news cycle yesterday after it announced that it received a letter of intent of the non-binding nature from the Export-Import Bank of the United States. The letter of intent was related to a debt funding package for a maximum of $150 million in a loan term of maximum 15 years.
The debt funding would be vital for Bunker Hill Mining’s efforts to speed up the development of its 2500 tpd Bunker 2.0 expansion project. Additionally, the funding would also help the company boost its balance sheet.
Implications
In the news release sent out yesterday, Bunker Hill Mining expressed its excitement about having taken the first step in the potential partnership with Export-Import Bank. It was further noted that the partnership would help the company make a key contribution to the domestic United States production of critical metals like silver and zinc. Considering the stiff competition faced from China, Bunker Hill Mining was making an effort to boost the metals supply chain in the United States.
CEO Comment
”We are thrilled to announce this first step in a potential partnership with EXIM to rapidly expand Bunker Hill’s contribution to US domestic production of critical zinc and silver,” said President and CEO, Sam Ash. “In the face of competition from China, Bunker Hill is proud to play its part in strengthening the US metals supply chain and creating new US mining jobs within the disadvantaged Shoshone County of Northern Idaho.”
| +/- EMA(20) | 0.12 (-7.83%) |
| +/- SMA(50) | 0.12 (-7.83%) |
| +/- SMA(200) | 0.11 (+0.55%) |
| 5-Day Perf. | -2.81% |
| 1-Month Perf. | -9.34% |
| 3-Month Perf. | -4.66% |
| 6-Month Perf. | +7.9% |
| YTD Perf. | +12.86% |
| 1-Year Perf. | +19.83% |
| RSI(14) | 41.15 |
| ATR(14) | 0.01 |
| ADX(14) | 31.75 |
 Stock On Watchlist After The Latest News){kind=link}