JDS Silver partners with Denham Capital for Silvertip Mine

JDS Silver partners with Denham Capital for Silvertip Mine

JDS Silver has partnered with energy-focused private equity firm Denham Capital to develop the Silvertip Mine in Canada, it announced on Tuesday.

The partnership sees Denham provide JDS with US$65 million to complete construction at Silvertip and bring the mine into production.

JDS began construction on the high grade silver-lead-zinc mine in December 2015 and was expecting the asset to begin production in late September 2016. In addition to developing Silvertip’s zinc resources, JDS plans to produce silver and lead in concentrate from the mines.

“Working with Denham has been essential in proving the unique model for the execution of a project like Silvertip and we are very proud of our partnership,” said JDS Silver CEO Jeff Stibbard.

“The combination of our development and operational capabilities along with the firm’s equity capital and strategic expertise has allowed us to expedite the construction and development of the Silvertip Mine into production.”

Established in 2012, JDS Silver is an owner-mining company focused on high potential near-term stranded asset in West and North Canada. The company says its unique approach is to create value added projects that others have missed.

“We are delighted that our first investment in the Canadian mining sector, partnering with Jeff [Stibbard] and his team, has led to the Silvertip mine being constructed in a mere nine months. JDS Silver has pulled out all the stops on this one.” added Caroline Donally, Denham Capital Director.

“Our partnership with JDS Silver is a perfect example of our team-first approach. Their proven track record, comprehensive engineering and evaluation knowledge were instrumental in bringing this historic mine to fruition, along with our capital. We eagerly anticipate the next stage in Silvertip’s life and look forward to working with this team on future endeavours.”