Under the terms of the deal, Glencore will provide up to US$7.5 million in funding through a secured loan facility. The debt will be repaid from future concentrate sales, which Glencore has committed to purchase under a long-term offtake agreement that runs through 2028 or 2029, depending on certain conditions. The initial tranche of the facility includes a six-month grace period before repayments begin, giving Excellon more financial flexibility during the ramp-up phase of operations. "Partnering with Glencore - one of the world's foremost mining and commodity firms, with an extensive operational framework in Peru - is a transformational step for Excellon," said Shawn Howarth, CEO of Excellon. "Glencore's commitment is a strong vote of confidence in the quality and potential of the Mallay Mine and in our team's plan to bring the operation back into production."