Pinnacle Silver and Gold (PINN ) has signed an amendment agreement with the vendor of the Potrero gold and silver project in Durango, Mexico, under the terms of which the original payment of US$750,000 due on 21st February 2026 will be split into three equal portions.
The new payment schedule will comprise payments of US$250,000 on each of 24th February, 24th May, and 24th August 2026.
All other cash payments and share issuances remain the same.
“We are very appreciative of the opportunity to spread out the payments as this will allow us to better budget our direct project costs and place more emphasis on advancing the project,” said Robert Archer, chief executive of Pinnacle.
“With our recently completed financing, we are continuing our fast-track approach to production at El Potrero with the upcoming underground drilling program.”
El Potrero is located in the prolific Sierra Madre Occidental of western Mexico and lies within 35 kilometres of four operating mines, including the 4,000 tonnes per day Ciénega mine operated by Fresnillo.
The property has been in private hands for almost 40 years and has never been systematically explored by modern methods, leaving significant exploration potential. What’s more, a previously operational 100 tonnes per day plant on site is available for refurbishment or reconstruction.
View from Vox
Pinnacle is operating inside a very propitious precious metals environment at the moment, and is thus able to give itself more flexibility when it comes to cash management and allocation. Watch for drilling news in the near future.