Bayhorse Silver Launches $750,000 Private Placement for Drilling and Exploration

Bayhorse Silver ( (TSE:BHS) ) has issued an update.

Bayhorse Silver Inc. has announced a 15 million unit non-brokered private placement to raise $750,000, subject to TSX Venture Exchange approval. The funds will support a diamond drilling program at the Bayhorse Silver Mine and an IP survey at the Pegasus Project to explore silver mineralization and potential porphyry copper deposits. This initiative aims to advance the Bayhorse Mine’s permitting process and cover general expenses, with securities subject to a hold period and finders’ fees applicable under certain conditions.

Spark’s Take on TSE:BHS Stock

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

Bayhorse Silver’s overall stock score is significantly impacted by its poor financial performance, characterized by consistent losses and high leverage. The technical indicators suggest a potential bearish trend, and the negative P/E ratio reflects valuation concerns. These factors highlight the company’s financial instability and limited growth prospects.

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 Washington County, Idaho. The company utilizes advanced Steinert Ore-Sorting technology to minimize waste and has a facility capable of processing significant amounts of silver/copper concentrate. Bayhorse Silver Inc. has an experienced team with expertise in exploration and mine development.

YTD Price Performance: -31.25%

Average Trading Volume: 329,596

Technical Sentiment Signal: Hold

Current Market Cap: C$16.86M

See more insights into BHS stock on TipRanks’ Stock Analysis page.