Apollo Silver Raises $15 Million in First Tranche of Upsized Private Placement

Apollo Gold ( (TSE:APGO) ) has shared an announcement.

Apollo Silver has closed the first tranche of its upsized non-brokered private placement, raising $15 million through the issuance of 3 million units at $5.00 each, with significant participation from major shareholder Eric Sprott and company insiders. Sprott’s investment of $12.5 million increases his stake to about 10.3% on a non-diluted basis and 15.8% on a partially diluted basis, underscoring confidence in the company’s silver assets, while a further tranche involving Jupiter Asset Management remains subject to regulatory approval; net proceeds will fund advancement of the Calico and Cinco de Mayo silver projects, ongoing property costs and general corporate purposes, reinforcing Apollo Silver’s positioning in the tightening silver market.

The most recent analyst rating on (TSE:APGO) stock is a Hold with a C$5.50 price target. To see the full list of analyst forecasts on Apollo Gold stock, see the TSE:APGO Stock Forecast page.

Spark’s Take on TSE:APGO Stock

According to Spark, TipRanks’ AI Analyst, TSE:APGO is a Neutral.

The score is held back primarily by weak financial performance (pre-revenue, persistent losses, and negative cash flow). This is partly offset by strong technical momentum (price above key moving averages with positive MACD) and supportive corporate developments (financing and project/resource progress), while valuation remains constrained by a negative P/E and no dividend.

To see Spark’s full report on TSE:APGO stock, click here.

More about Apollo Gold

Apollo Silver Corp. is a silver-focused mining company advancing large-scale primary silver assets in stable jurisdictions, including the Calico Silver Project in San Bernardino, California, and the Cinco de Mayo Silver Project in Chihuahua, Mexico. The company targets tightening silver markets with a strategy centered on developing these core projects while maintaining strong alignment with key institutional and insider shareholders.

Average Trading Volume: 214,002

Technical Sentiment Signal: Buy

Current Market Cap: C$324.4M

For detailed information about APGO stock, go to TipRanks’ Stock Analysis page.