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An update from Bayhorse Silver ( (TSE:BHS) ) is now available.
Bayhorse Silver has mobilized a newly purchased underground-capable diamond drill rig to its Bayhorse Silver Mine in Oregon to execute a minimum 2,000-meter program of up to 10 drill holes. The company is targeting multiple induced polarization anomalies both within and beyond the current inferred resource area, aiming to refine the geometry of mineralization and test for silver-bearing extensions above, below, and laterally to existing workings.
The expanded drilling campaign doubles the previously outlined initial underground drill meterage and includes targets that historic data and recent IP surveys suggest could host higher-grade silver zones. Management indicates the goal is to potentially increase total silver resources and upgrade portions of the existing inferred resource to higher confidence categories, which could enhance future mine planning and the project’s overall economic profile once operating permits are in place.
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 TSE:BHS Stock
According to Spark, TipRanks’ AI Analyst, TSE: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 TSE:BHS stock, click here.
More about Bayhorse Silver
Bayhorse Silver Inc. is a mineral exploration and production company focused on silver, holding a 100% interest in the historic Bayhorse Silver Mine in Oregon, U.S. The company also owns the Pegasus Project in Idaho, with its Bayhorse operation permitted as a minimum environmental impact facility capable of processing up to 200 tons of ore per day using modern ore-sorting technology.
Average Trading Volume: 749,489
Technical Sentiment Signal: Buy
Current Market Cap: C$35.89M
See more data about BHS stock on TipRanks’ Stock Analysis page.