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Bayhorse Silver ( (TSE:BHS) ) just unveiled an update.
Bayhorse Silver Inc. has closed the first tranche of its private placement, raising $374,040 through the issuance of 9,351,000 units. The funds will support an IP survey on the Pegasus Project, advance permitting at the Bayhorse Mine, and cover general expenses. The participation of the CEO and CFO in this transaction is classified as a related party transaction but is exempt from certain regulatory requirements. This financing move is expected to bolster Bayhorse’s operational capabilities and exploration efforts, potentially enhancing its market position and offering strategic benefits to stakeholders.
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 National Instrument 43-101 inferred resource of 292,300 tons at a grade of 21.65 opt for 6.3 million ounces of silver. It operates a minimum environmental impact facility capable of processing up to 200 tons/day and has a mill and flotation processing facility in Idaho, with an offtake agreement with Ocean Partners UK Limited.
Average Trading Volume: 390,139
Technical Sentiment Signal: Sell
Current Market Cap: C$12.75M
See more insights into BHS stock on TipRanks’ Stock Analysis page.