Highlander Executes $330M Debt Mandate for Peru Project

Highlander Silver executed a mandate letter with Natixis Corporate and Investment Banking on or before September 23, 2026 for a fully underwritten US$330 million, seven-year senior secured project-finance facility for the Corani Silver Project in Peru. The deal requires a company-provided cost-overrun facility of up to US$100 million before first draw, with closing targeted for the first quarter of 2027. Highlander reported about US$100 million in cash and no debt as of June 30, 2026 and retained 100% of Corani offtake rights. The project was acquired via Bear Creek Mining in February 2026. Q3 2026 work included earthworks, camp and infrastructure construction at the site above 5,200 m in Carabaya province, Puno region. CEO Daniel Earle called it "a strong endorsement of the Corani Silver project, providing high-quality capital after having gone through a rigorous process that covered key technical, financial, environmental, and social aspects of the initiative." Luis Fernando Tello of KPMG Perú said: "Corani has permits to start construction, although its development will depend on financing and the final investment decision." What is contested: BNamericas puts estimated total investment at US$579 million; analysts in a wire summary put total capital needs at roughly US$450-500 million. Closing still depends on credit approvals, definitive documentation and due diligence.