10:12 AM EST, 01/25/2022 (MT Newswires) -- Bunker Hill Mining Corp. (BNKR.CSE) on Tuesday announced the signing of a Memorandum of Understanding with Teck Resources (TECK-A.TO, TECK-B.TO) for the purchase of the Pend Oreille process plant, 145 miles from the Bunker Hill Mine by road.
The package comprises substantially all processing equipment of value located at the site, including complete crushing, grinding and flotation circuits suitable for a planned ~1,500 tpd operation at Bunker Hill, and total inventory of nearly 10,000 components and parts for mill, assay lab, conveyer, field instruments, and electrical spares. Teck's local operations team has maintained the process plant and infrastructure since the operation moved into care and maintenance in 2019.
The non-binding MOU outlines a purchase price under two scenarios, at Teck's option: an all-cash $2.75 million purchase price, or a $3 million purchase price comprised of cash and Bunker Hill shares. Each option includes a $0.5 million non-refundable deposit, which has already been paid.