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Rio Silver ( (TSE:RYO) ) has issued an announcement.
Rio Silver Inc. has announced an increase in its non-brokered private placement offering from 13,000,000 to 22,000,000 units, raising an additional $900,000 for a total of $2.2 million. The funds will be used for exploration and development of the Maria Norte project in Peru and the Gerow Lake project in Ontario, as well as for general working capital, pending regulatory approval.
Spark’s Take on TSE:RYO Stock
According to Spark, TipRanks’ AI Analyst, TSE:RYO is a Underperform.
Rio Silver’s overall stock performance is hindered by significant financial weaknesses, including lack of revenue and negative equity. Technical analysis indicates a bearish trend, and valuation metrics are unappealing with a negative P/E ratio. The strategic sale of the Niñobamba project offers a glimmer of opportunity for improvement.
To see Spark’s full report on TSE:RYO stock, click here.
More about Rio Silver
Rio Silver Inc. operates in the mining industry, focusing on the exploration and development of mineral properties. The company is primarily involved in the extraction of gold, silver, lead, and zinc, with projects located in Peru and Northern Ontario.
Average Trading Volume: 33,392
Technical Sentiment Signal: Buy
Current Market Cap: C$3.05M
For a thorough assessment of RYO stock, go to TipRanks’ Stock Analysis page.