Bear Creek Raises C$18 Million as Highlander Silver Moves to Take Over Miner

Bear Creek Mining ( (TSE:BCM) ) has shared an announcement.

Bear Creek Mining has closed a C$18 million non-brokered private placement, issuing 50 million common shares at C$0.36 each to Highlander Silver Corp., with the proceeds earmarked for bonding, site investigation, exploration and studies at the Corani silver project in Peru and for general working capital at the Mercedes gold mine in Mexico. The financing leaves Highlander Silver holding about 14.6% of Bear Creek’s outstanding shares and advances a previously announced plan of arrangement under which Highlander Silver intends to acquire the rest of Bear Creek, creating a combined company led by Highlander’s management; upon completion, Bear Creek’s shares are expected to be delisted from the TSX Venture Exchange and the company will seek to cease being a reporting issuer in Canada, implying a major ownership consolidation and structural change for existing shareholders.

The most recent analyst rating on (TSE:BCM) stock is a Hold with a C$0.54 price target. To see the full list of analyst forecasts on Bear Creek Mining stock, see the TSE:BCM Stock Forecast page.

Spark’s Take on TSE:BCM Stock

According to Spark, TipRanks’ AI Analyst, TSE:BCM is a Neutral.

Bear Creek Mining’s overall stock score is primarily impacted by its poor financial performance, with persistent losses and high leverage posing significant risks. While technical indicators show some positive momentum, the negative valuation metrics further weigh down the score. Strategic improvements are essential for enhancing financial health and investor confidence.

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

More about Bear Creek Mining

Bear Creek Mining Corporation is a precious metals company focused on the exploration, development and operation of silver and gold assets in Latin America. Its key projects include the Corani silver project in Puno, Peru, and the Mercedes gold mine in Sonora, Mexico, positioning the company within the silver and gold mining sector with a geographic focus on Peru and Mexico.

Average Trading Volume: 1,337,289

Technical Sentiment Signal: Buy

Current Market Cap: C$193.5M

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