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The latest announcement is out from Capitan Silver ( (TSE:CAPT) ).
Capitan Silver Corp. has secured a C$6 million non-brokered private placement from Schroder Investment Management, which, combined with a recently completed C$23 million bought-deal financing, lifts its total recent equity raise to about C$29 million through the issuance of roughly 14.3 million common shares at C$2.03 each. Management says the investment by Schroders’ Global Gold Fund and the successful bought-deal have broadened the company’s institutional shareholder base and enhanced its capital markets profile, with net proceeds earmarked primarily for exploration at the Cruz de Plata silver-gold project in Mexico and for general corporate purposes, reinforcing Capitan Silver’s funding position as it advances drilling and project growth plans.
The most recent analyst rating on (TSE:CAPT) stock is a Buy with a C$2.40 price target. To see the full list of analyst forecasts on Capitan Silver stock, see the TSE:CAPT Stock Forecast page.
Spark’s Take on TSE:CAPT Stock
According to Spark, TipRanks’ AI Analyst, TSE:CAPT is a Neutral.
Capitan Mining’s overall stock score reflects significant financial challenges due to zero revenue and negative cash flows, outweighed by relatively strong technical indicators and promising corporate events involving strategic exploration and financing initiatives. However, the lack of profitability as indicated by the negative P/E ratio and absence of dividend yield is a concern.
To see Spark’s full report on TSE:CAPT stock, click here.
More about Capitan Silver
Capitan Silver Corp. is a precious metals exploration company focused on defining a new high-grade silver system at its Cruz de Plata silver-gold project in Mexico’s primary silver belt. Led by a management team with a track record of bringing three projects into production on time and on budget, the company maintains a relatively tight share structure, with its top three shareholders holding over 37% of the share capital, and is currently fully funded and actively drilling at Cruz de Plata.
Average Trading Volume: 140,061
Technical Sentiment Signal: Buy
Current Market Cap: C$237.6M
For a thorough assessment of CAPT stock, go to TipRanks’ Stock Analysis page.