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An update from Mantaro Precious Metals ( (TSE:FAS) ) is now available.
First Andes Silver has launched a private placement financing of up to 16.67 million common shares at $0.12 per share to raise as much as $2 million under the listed issuer financing exemption, with the deal potentially including finder’s fees and two-year warrants, and subject to TSX Venture Exchange approval. The net proceeds are earmarked primarily to expand and intensify drilling and exploration at the Santas Gloria silver property in Peru, fund annual mineral claim payments in the country, and bolster working capital, signaling a push to accelerate resource delineation and advance the company’s flagship asset in a key silver-producing district.
More about Mantaro Precious Metals
First Andes Silver Ltd. is a British Columbia-based mineral exploration company focused on its 100%-owned high-grade Santas Gloria silver property, located 55 km east of Lima in a major Peruvian mining district. The project sits within a well-known intermediate-sulphidation epithermal belt, has road access and over 12 km of multiphase veins mapped at surface, and has yielded strong near-surface silver intercepts in most holes from its initial 2024–2025 diamond drilling campaigns, underpinning plans for systematic, project-wide exploration and follow-up drilling.
Average Trading Volume: 346,380
Technical Sentiment Signal: Buy
Current Market Cap: C$12.23M
See more data about FAS stock on TipRanks’ Stock Analysis page.