Vizsla Silver Signs MXN$173M Credit Agreement with Mexican Government Financial Institution
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 26 2026
0mins
Vizsla Silver announced that Minera Canam, a Mexican subsidiary of the Company that holds the Panuco silver-gold project in Sinaloa, Mexico, has entered into an unsecured credit agreement dated February 26 for a MXN$173M working capital facility with Fideicomiso de Fomento Minero, a Mexican government-backed financial institution specialized in the mining sector, with the Facility having received approval from FIFOMI's internal credit committee on May 4, 2026.
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Wall Street analysts forecast VZLA stock price to rise
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Current: 3.580
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6.10
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Current: 3.580
Low
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Averages
6.10
High
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About VZLA
Vizsla Silver Corp. is a Canada-based mineral exploration and development company. The Company is focused on advancing its flagship, 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. The Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlan. The 7,189.5-hectare, past producing district benefits from over 86 kilometers (km) of total vein extent, 35 km of underground mines, roads, power, and permits. The district contains intermediate to low sulfidation epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. The Company also owns the past-producing La Garra-Metates district (the La Garra) situated in the heart of the silver-gold-rich Panuco - San Dimas corridor.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Vizsla Silver Corp Awards Equipment Supply Agreement to FLSmidth
- Equipment Supply Agreement Signed: Vizsla Silver Corp has awarded an Equipment Supply Agreement to FLSmidth, covering major process equipment for the Panuco silver-gold project, which is expected to support an initial production capacity of 3,300 tpd and future expansion to 4,000 tpd.
- Engineering Work to Commence: Engineering work under the agreement will begin immediately, with a formal Notice to Proceed anticipated in the coming months to initiate equipment manufacturing, ensuring the project progresses as planned.
- Future Expansion Design: The equipment configuration is designed to facilitate future modifications associated with the integration of the Napoleon mine, ensuring minimal operational downtime and enhancing overall production efficiency and flexibility.
- Strategic Partnership: FLSmidth will provide Vizsla Silver with a Life-Cycle Service Offering, ensuring high-level support throughout the commissioning, ramp-up, and operational phases of the project, further enhancing the company's competitive position in the market.
See More
Vizsla Silver Corp Awards Equipment Supply Agreement to FLSmidth for Panuco Project
- Equipment Supply Agreement: Vizsla Silver Corp has awarded an Equipment Supply Agreement to FLSmidth, covering major process equipment for the Panuco project, which is expected to significantly enhance production efficiency and equipment reliability.
- Rapid Engineering Progress: Engineering work under the agreement has commenced immediately, with formal equipment manufacturing anticipated to begin in the coming months, ensuring the project stays on schedule to meet the initial 3,300 tonnes per day production capacity.
- Future Expansion Potential: The equipment configuration is designed to support an expansion to 4,000 tonnes per day, with the capability to integrate the Napoleon mine in Year 4, ensuring operational flexibility and continuity.
- Strategic Partnership: FLSmidth's Life-Cycle Service Offering will provide comprehensive support to Vizsla Silver, helping maximize silver recovery and production throughout all project phases, further solidifying its leadership position in the silver mining industry.
See More
Nord Precious Metals Discovers New Silver Vein
- High-Grade Silver Discovery: Nord Precious Metals reported a remarkable silver grade of 61,389 g/t in hole CS-21-73W1 at the Castle East project, significantly surpassing the low hundreds g/t typical of most primary silver mines globally, indicating that the Cobalt-Gowganda district still holds world-class silver potential, likely attracting renewed investor interest.
- Innovative Drilling Technique: By employing wedge drilling technology, Nord can probe the same structural target without re-collaring, with CS-21-73W2 returning 242 g/t silver, further validating the area's mineral richness and enhancing the economic viability of future development.
- Extension Potential of Deposits: The drilling results from the third wedge, CS-21-73W3, indicate that silver and cobalt mineralization extends into previously undrilled areas, suggesting significant extension potential for the vein system, which could provide crucial data for future resource updates.
- Strategic Resource Consolidation: With all regional mining leases secured, Nord can now test structures that were previously inaccessible due to fragmented ownership, with one historically producing mine yielding approximately 40 million ounces of silver, underscoring the high-grade discovery potential in the area and further solidifying the company's market position.
See More
Nord Precious Metals Reports High-Grade Silver Discovery
- High-Grade Silver Discovery: Nord Precious Metals reported a remarkable 0.30-meter interval grading 61,389 g/t silver at its Castle East project, indicating the Cobalt-Gowganda district still holds world-class silver potential, likely attracting renewed investor interest.
- Innovative Drilling Technique: Utilizing wedge drilling technology allows Nord to probe different positions from a single parent hole, with CS-21-73W2 intersecting 242 g/t silver at 496.9 meters, further validating the area's mineral potential.
- Polymetallic Resource Potential: In addition to silver, the 0.30-meter interval in CS-21-73W1 also returned 2.44% cobalt, suggesting that the five-element mineralization (Ag-Co-Ni-As-Bi) could significantly contribute to future project economics.
- Resource Update Outlook: Nord is currently executing a 5,000-meter drilling program aimed at validating historical data and expanding known zones, which is expected to provide critical data for future resource updates, enhancing the company's competitiveness in the silver market.
See More
Vizsla Silver Secures $10M Credit Agreement for Panuco Project
- Funding Support: Vizsla Silver (VZLA) rose 6.1% in Tuesday's trading after announcing an unsecured credit agreement with Fideicomiso de Fomento Minero, a Mexican government-backed financial institution, securing approximately $10 million in working capital to support operating expenditures related to the Panuco project.
- Feasibility Study Insights: The feasibility study completed in November for the Panuco project indicates an expected production of 17.4 million ounces of gold equivalent annually over an initial mine life of 9.4 years, with an after-tax net present value of $1.8 billion, an internal rate of return of 111%, and a seven-month payback period at silver prices of $35.50/oz and gold prices of $3,100/oz.
- Economic Significance: CEO Michael Konnert stated that the agreement with FIFOMI represents a significant endorsement and validation of the Panuco project as an economically important development for both Sinaloa and Mexico, highlighting its potential economic impact.
- Sufficient Funding: The company has confirmed that it will finish 2025 with over $450 million in cash, nearly double the initial capital expenditure requirement outlined in the feasibility study, ensuring ample funding for the development and construction of the Panuco project.
See More
Vizsla Silver Secures MXN 173 Million Financing for Panuco Project
- Financing Agreement Reached: Vizsla Silver's Mexican subsidiary Minera Canam has signed an unsecured credit agreement with FIFOMI for MXN 173 million (approximately USD 10 million) to provide working capital for the Panuco project, thereby enhancing the project's economic viability and growth potential.
- Project Importance Acknowledged: The agreement received approval from FIFOMI's internal credit committee, marking the recognition of the Panuco project as an economically significant development for both Sinaloa and Mexico, further solidifying Vizsla Silver's partnership with the Mexican government.
- Clear Use of Funds: The financing will support operating and working capital expenditures related to the Panuco project, which is expected to foster the development of local suppliers and contractors, thereby driving economic growth in Sinaloa.
- Optimistic Project Outlook: The feasibility study completed by Vizsla Silver in 2025 indicates that the Panuco project is expected to produce 17.4 million ounces of silver equivalent annually, with an after-tax NPV of USD 1.8 billion, showcasing a strong return on investment and attracting investor interest.
See More
Vizsla Silver Corp Awards Equipment Supply Agreement to FLSmidth
- Equipment Supply Agreement Signed: Vizsla Silver Corp has awarded an Equipment Supply Agreement to FLSmidth, covering major process equipment for the Panuco silver-gold project, which is expected to support an initial production capacity of 3,300 tpd and future expansion to 4,000 tpd.
- Engineering Work to Commence: Engineering work under the agreement will begin immediately, with a formal Notice to Proceed anticipated in the coming months to initiate equipment manufacturing, ensuring the project progresses as planned.
- Future Expansion Design: The equipment configuration is designed to facilitate future modifications associated with the integration of the Napoleon mine, ensuring minimal operational downtime and enhancing overall production efficiency and flexibility.
- Strategic Partnership: FLSmidth will provide Vizsla Silver with a Life-Cycle Service Offering, ensuring high-level support throughout the commissioning, ramp-up, and operational phases of the project, further enhancing the company's competitive position in the market.
See More
Vizsla Silver Corp Awards Equipment Supply Agreement to FLSmidth for Panuco Project
- Equipment Supply Agreement: Vizsla Silver Corp has awarded an Equipment Supply Agreement to FLSmidth, covering major process equipment for the Panuco project, which is expected to significantly enhance production efficiency and equipment reliability.
- Rapid Engineering Progress: Engineering work under the agreement has commenced immediately, with formal equipment manufacturing anticipated to begin in the coming months, ensuring the project stays on schedule to meet the initial 3,300 tonnes per day production capacity.
- Future Expansion Potential: The equipment configuration is designed to support an expansion to 4,000 tonnes per day, with the capability to integrate the Napoleon mine in Year 4, ensuring operational flexibility and continuity.
- Strategic Partnership: FLSmidth's Life-Cycle Service Offering will provide comprehensive support to Vizsla Silver, helping maximize silver recovery and production throughout all project phases, further solidifying its leadership position in the silver mining industry.
See More
Nord Precious Metals Discovers New Silver Vein
- High-Grade Silver Discovery: Nord Precious Metals reported a remarkable silver grade of 61,389 g/t in hole CS-21-73W1 at the Castle East project, significantly surpassing the low hundreds g/t typical of most primary silver mines globally, indicating that the Cobalt-Gowganda district still holds world-class silver potential, likely attracting renewed investor interest.
- Innovative Drilling Technique: By employing wedge drilling technology, Nord can probe the same structural target without re-collaring, with CS-21-73W2 returning 242 g/t silver, further validating the area's mineral richness and enhancing the economic viability of future development.
- Extension Potential of Deposits: The drilling results from the third wedge, CS-21-73W3, indicate that silver and cobalt mineralization extends into previously undrilled areas, suggesting significant extension potential for the vein system, which could provide crucial data for future resource updates.
- Strategic Resource Consolidation: With all regional mining leases secured, Nord can now test structures that were previously inaccessible due to fragmented ownership, with one historically producing mine yielding approximately 40 million ounces of silver, underscoring the high-grade discovery potential in the area and further solidifying the company's market position.
See More
Nord Precious Metals Reports High-Grade Silver Discovery
- High-Grade Silver Discovery: Nord Precious Metals reported a remarkable 0.30-meter interval grading 61,389 g/t silver at its Castle East project, indicating the Cobalt-Gowganda district still holds world-class silver potential, likely attracting renewed investor interest.
- Innovative Drilling Technique: Utilizing wedge drilling technology allows Nord to probe different positions from a single parent hole, with CS-21-73W2 intersecting 242 g/t silver at 496.9 meters, further validating the area's mineral potential.
- Polymetallic Resource Potential: In addition to silver, the 0.30-meter interval in CS-21-73W1 also returned 2.44% cobalt, suggesting that the five-element mineralization (Ag-Co-Ni-As-Bi) could significantly contribute to future project economics.
- Resource Update Outlook: Nord is currently executing a 5,000-meter drilling program aimed at validating historical data and expanding known zones, which is expected to provide critical data for future resource updates, enhancing the company's competitiveness in the silver market.
See More
Vizsla Silver Secures $10M Credit Agreement for Panuco Project
- Funding Support: Vizsla Silver (VZLA) rose 6.1% in Tuesday's trading after announcing an unsecured credit agreement with Fideicomiso de Fomento Minero, a Mexican government-backed financial institution, securing approximately $10 million in working capital to support operating expenditures related to the Panuco project.
- Feasibility Study Insights: The feasibility study completed in November for the Panuco project indicates an expected production of 17.4 million ounces of gold equivalent annually over an initial mine life of 9.4 years, with an after-tax net present value of $1.8 billion, an internal rate of return of 111%, and a seven-month payback period at silver prices of $35.50/oz and gold prices of $3,100/oz.
- Economic Significance: CEO Michael Konnert stated that the agreement with FIFOMI represents a significant endorsement and validation of the Panuco project as an economically important development for both Sinaloa and Mexico, highlighting its potential economic impact.
- Sufficient Funding: The company has confirmed that it will finish 2025 with over $450 million in cash, nearly double the initial capital expenditure requirement outlined in the feasibility study, ensuring ample funding for the development and construction of the Panuco project.
See More
Vizsla Silver Secures MXN 173 Million Financing for Panuco Project
- Financing Agreement Reached: Vizsla Silver's Mexican subsidiary Minera Canam has signed an unsecured credit agreement with FIFOMI for MXN 173 million (approximately USD 10 million) to provide working capital for the Panuco project, thereby enhancing the project's economic viability and growth potential.
- Project Importance Acknowledged: The agreement received approval from FIFOMI's internal credit committee, marking the recognition of the Panuco project as an economically significant development for both Sinaloa and Mexico, further solidifying Vizsla Silver's partnership with the Mexican government.
- Clear Use of Funds: The financing will support operating and working capital expenditures related to the Panuco project, which is expected to foster the development of local suppliers and contractors, thereby driving economic growth in Sinaloa.
- Optimistic Project Outlook: The feasibility study completed by Vizsla Silver in 2025 indicates that the Panuco project is expected to produce 17.4 million ounces of silver equivalent annually, with an after-tax NPV of USD 1.8 billion, showcasing a strong return on investment and attracting investor interest.
See More
