Bayhorse Silver Expands Private Placement for Mine Development and Debt Settlement

An announcement from Bayhorse Silver ( (TSE:BHS) ) is now available.

Bayhorse Silver Inc. has announced an increase in its private placement to 25 million units, aiming to raise $1,000,000 for ongoing work at the Bayhorse Silver Mine and an IP survey at the Pegasus Project in Idaho. The funds will be allocated to further define drill targets, advance mine permitting, and cover administrative expenses, with no proceeds going to non-arm’s-length parties. Additionally, the company plans to settle a debt with its Corporate Secretary through the issuance of common shares, a move that is subject to TSX Venture Exchange approval.

Spark’s Take on TSE:BHS Stock

According to Spark, TipRanks’ AI Analyst, TSE:BHS is a Underperform.

Bayhorse Silver’s stock score is heavily impacted by its poor financial performance, with persistent losses, high leverage, and negative cash flow. Despite some positive developments in drilling and mineralization, the technical indicators suggest a bearish trend, and the negative P/E ratio poses valuation concerns. The recent corporate events offer some optimism, but the overall financial instability and limited growth prospects dominate the score.

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

More about Bayhorse Silver

Bayhorse Silver Inc. is an exploration and production company with a 100% interest in the historic Bayhorse Silver Mine in Oregon, USA, and the Pegasus Project in Idaho. The company focuses on silver mining and has a facility capable of processing up to 200 tons per day, utilizing advanced ore-sorting technology to minimize environmental impact. Bayhorse Silver is supported by an experienced management and technical team with extensive expertise in exploration and mine development.

Average Trading Volume: 394,025

Technical Sentiment Signal: Sell

Current Market Cap: C$12.75M

Find detailed analytics on BHS stock on TipRanks’ Stock Analysis page.