Vizsla Silver Bets on Non-Dilutive $10M FIFOMI Facility for Panuco

Vizsla Silver Corp. secured a $10 million working capital facility from FIFOMI, a Mexican government-backed mining development trust, to support its Panuco silver-gold project in Sinaloa.

The facility, MXN$173 million, is unsecured. The company said it will cover general working capital needs without the dilution that would come from an equity offering. FIFOMI – Fideicomiso de Fomento Minero – was created to promote Mexican mining. Its backing signals institutional confidence in the project, even as Vizsla remains an early-stage producer.

Panuco hosts high-grade silver and gold mineralization. Vizsla has been drilling there, releasing positive results in recent quarters that extend known zones. The new cash can fund further expansion drilling and engineering work ahead of a resource update expected in the second half of the year.

Vizsla carries an Alpha Score of 20 out of 100, a proprietary metric that ranks its fundamental health as Weak. That low score suggests the financing offers a bridge, not a cure. The company still needs to demonstrate it can move the project toward production without further dilutive raises.

Silver prices have been supportive this year, lifted by industrial demand and investment buying. Vizsla’s costs are mostly in pesos, so a strong dollar adds a tailwind. Broader commodity demand trends are tracked in the commodities analysis section. The gold-silver ratio is also worth watching, as movements in gold often pull silver along.

The facility gives Vizsla roughly 12 months of runway at its current burn rate, the company indicated. A resource update is the next concrete catalyst. If the drill results support an expansion of the resource base, the stock could re-rate. If not, the low Alpha Score and thin liquidity will keep the stock in penny-stock territory.

The facility closed May 26. The company plans to release the resource update before year-end.