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An update from Magma Silver ( (TSE:MGMA) ) is now available.
Magma Silver Corp. has successfully closed a $5 million private placement, issuing 33,333,332 units at $0.15 each. The funds will be used for exploration at the Niñobamba project in Peru, working capital, and general corporate purposes. Notably, Eric Sprott acquired a significant portion of the offering, now holding 9.5% of the company’s shares on a non-diluted basis. This investment could potentially enhance the company’s market position and provide strategic growth opportunities.
More about Magma Silver
Magma Silver Corp. is a company operating in the mining industry, focusing on the exploration and development of silver and gold projects. Its primary market focus includes projects like the Niñobamba silver-gold project in Peru.
Average Trading Volume: 417,139
Technical Sentiment Signal: Hold
Current Market Cap: C$7.74M
For a thorough assessment of MGMA stock, go to TipRanks’ Stock Analysis page.