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Bunker Hill Mining Corp (BHLL+0.17%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on the development and restart of the Bunker Hill Mine, located in Idaho, USA. Historically, the mine has produced over 165 million ounces of silver and 5 million tons of base metals.
In 2024, significant developments included the installation of new offices and major earthworks at the Wardner operating yard, as well as the construction of the Process Plant at the Kellogg yard.
Financially, the company entered into a secured promissory note purchase agreement with Monetary Metals, resulting in a Silver Loan of up to 1.2 million ounces of silver. Several tranches were closed throughout the year.
The company also amended existing financing with Sprott, extending maturity dates and increasing interest rates on certain loans.
Bunker Hill reported a net loss of $25,341,623 for the year, with operating expenses totaling $15,649,142, an increase from the previous year.
The company plans to commence operations in 2026, subject to securing additional financing.
The filing includes a detailed risk assessment, highlighting the company's dependence on securing additional funding and the potential impact of commodity price volatility.
Bunker Hill's management team, comprised of former Barrick Gold Corp executives, continues to focus on advancing the rehabilitation and development of the mine.
The company has a working capital deficit of $20,311,773 as of December 31, 2024, and acknowledges the need for future financing to continue operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bunker Hill Mining Corp annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.