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Magma Silver ( (TSE:MGMA) ) has shared an update.
Magma Silver Corp. has announced an increase in its non-brokered private placement from $4 million to $5 million due to strong investor demand. The funds raised will be used for exploration at the Niñobamba silver-gold project in Peru, as well as for working capital and general corporate purposes. The offering is expected to close on or about October 22, 2025, subject to regulatory approvals. This move is likely to bolster Magma Silver’s operational capabilities and strengthen its position in the precious metals exploration industry.
More about Magma Silver
Magma Silver Corp. is a natural resources exploration company focused on acquiring, exploring, developing, and operating precious metal mining projects. The company is listed on the TSX Venture Exchange, OTCQB, and Frankfurt Exchange, with its primary focus on the Niñobamba silver-gold project in Peru. This project spans an 8 km mineralized corridor in a high-sulphidation epithermal system, with significant resource potential demonstrated by extensive exploration and over C$14.5 million invested to date.
Average Trading Volume: 324,957
Technical Sentiment Signal: Hold
Current Market Cap: C$6.19M
See more data about MGMA stock on TipRanks’ Stock Analysis page.