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Blackrock Silver ( (TSE:BRC) ) has shared an announcement.
Blackrock Silver Corp. has closed a C$14.999 million non-brokered private placement, issuing 13,636,300 units at C$1.10 each, with each unit comprising one common share and half a warrant exercisable at C$1.50 until January 2028. The financing, led by a nearly C$7 million investment from Eric Sprott and supported by a new cornerstone investor, strengthens Blackrock’s balance sheet and is earmarked for exploration, permitting and pre-development work at its Tonopah West project in Nevada, as well as general working capital, underscoring the company’s push to advance toward development and solidify its position as an emerging U.S. silver developer.
The most recent analyst rating on (TSE:BRC) stock is a Buy with a C$1.40 price target. To see the full list of analyst forecasts on Blackrock Silver stock, see the TSE:BRC Stock Forecast page.
Spark’s Take on TSE:BRC Stock
According to Spark, TipRanks’ AI Analyst, TSE:BRC is a Neutral.
Blackrock Silver faces significant financial challenges, with ongoing losses and negative cash flows. However, its minimal debt and positive developments in the Tonopah West project provide some optimism. The technical indicators are neutral, and valuation metrics are unfavorable. Strategic improvements and successful project developments are crucial for future growth.
To see Spark’s full report on TSE:BRC stock, click here.
More about Blackrock Silver
Blackrock Silver Corp. is a junior precious metals exploration and development company focused on gold and silver projects in Nevada. Backed by in-situ gold and silver resources and guided by a seasoned board, the company’s 100%-controlled portfolio targets low-sulphidation epithermal gold and silver mineralization along the Northern Nevada Rift and Walker Lane trend, with an emphasis on advancing its Tonopah West project as a potential domestic source of silver for the U.S. market.
Average Trading Volume: 1,202,292
Technical Sentiment Signal: Buy
Current Market Cap: C$429.2M
Find detailed analytics on BRC stock on TipRanks’ Stock Analysis page.