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Bayhorse Silver ( (TSE:BHS) ) has shared an update.
Bayhorse Silver has expanded its underground diamond drilling campaign at the Bayhorse Silver Mine to as many as 20 holes, with a first-phase program of at least 2,300 meters aimed at both the existing inferred resource area and newly refined conceptual exploration targets. The company is using recent induced polarization results to guide drilling on multiple targets, including CR-1, CR-2 and MW-2 in the first stage, and CR-3, MR-1 and MR-2 in a planned second stage.
Management says the objective is to collect data to better define the extent, structure and grade of the deposit and potentially increase the current inferred silver resource or upgrade portions to higher confidence categories. The IP anomalies suggest mineralized zones may extend several hundred meters vertically and along strike beyond current workings, which, if confirmed by drilling, could materially enhance the mine’s resource inventory and long-term production potential for silver and associated critical metals.
The most recent analyst rating on (TSE:BHS) stock is a Hold with a C$0.10 price target. To see the full list of analyst forecasts on Bayhorse Silver stock, see the TSE:BHS Stock Forecast page.
Spark’s Take on BHS Stock
According to Spark, TipRanks’ AI Analyst, BHS is a Neutral.
The score is primarily weighed down by weak financial performance (no revenue, continued losses, negative free cash flow, and negative equity indicating funding risk). Technical indicators also show a soft near-term trend (below short-term moving averages and negative MACD). Valuation signals are limited due to negative earnings and no stated dividend yield.
To see Spark’s full report on BHS stock, click here.
More about Bayhorse Silver
Bayhorse Silver Inc. is a mineral exploration and development company focused on the Bayhorse Silver Mine, where it is advancing underground silver production and resource expansion. The company targets high-grade silver mineralization and associated critical minerals such as copper and antimony, aiming to grow its resource base and improve its positioning in the North American silver and critical metals market.
Average Trading Volume: 610,470
Technical Sentiment Signal: Hold
Current Market Cap: C$28.71M
See more data about BHS stock on TipRanks’ Stock Analysis page.