Safi Silver has received the third scheduled quarterly payment of $3 million from Horizon Corporation Limited under the previously announced sale of its interest in the Kombat Mine in Namibia. The payment adds another source of non-dilutive capital as the Canadian exploration company advances its silver and copper projects in Africa.
The Kombat transaction was announced in December 2025 and was structured to provide Safi Silver with recurring cash payments while preserving longer-term exposure through a retained royalty and contingent consideration tied to the mine. The latest installment is the third quarterly payment received under that arrangement.
Safi Silver plans to use the additional financial flexibility to continue advancing exploration in Morocco, where the company’s flagship Addana Silver Project is a central focus. The company is currently drilling two targets at Addana, Addana Southwest and Antenna Hill, and said it will continue providing updates as additional Horizon payments are received and exploration milestones are reached.
Addana hosts silver-bearing polymetallic veins and is one of two Morocco projects in Safi Silver’s portfolio. The company is also evaluating the Silver Hill project, a sedimentary copper prospect, and holds the Kalahari Copperbelt Project in Namibia.
The scientific and technical information in the company’s release was reviewed and approved by Dr. Andreas Rompel, Safi Silver’s Chief Exploration Officer, who is a Qualified Person under Canada’s National Instrument 43-101. The company said the Horizon transaction is intended to support its exploration strategy without requiring new equity issuance for the latest capital received.
KEY QUOTE:
“Receiving this third payment further strengthens Safi’s financial position. The proceeds allow us to continue advancing our strategy without shareholder dilution while maintaining exposure to the future success of Kombat. As we continue to execute our exploration plans in Morocco, we believe Safi is well positioned to create long-term value for shareholders.”
Jed Richardson, President And CEO Of Safi Silver
