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Sierra Madre Gold & Silver Ltd. ( (TSE:SM) ) has shared an announcement.
Sierra Madre Gold & Silver Ltd. has successfully closed the first tranche of its brokered private placement, raising $17.75 million out of a planned $19.5 million. The funds will be used to expand the Guitarra mine and conduct exploration at the East District. The transaction involved a related party component, with certain directors and officers participating, and was facilitated by Beacon Securities Limited and Canaccord Genuity Corp. The offering is subject to final acceptance by the TSX Venture Exchange and complies with various regulatory exemptions.
Spark’s Take on TSE:SM Stock
According to Spark, TipRanks’ AI Analyst, TSE:SM is a Neutral.
Sierra Madre Gold & Silver Ltd. faces significant challenges with profitability and cash flow, despite some revenue growth. Technical indicators and recent corporate events provide a slightly positive outlook, though the negative valuation metrics and lack of earnings call insights weigh on the overall stock score.
To see Spark’s full report on TSE:SM stock, click here.
More about Sierra Madre Gold & Silver Ltd.
Sierra Madre Gold & Silver Ltd. operates in the mining industry, focusing on the exploration and development of gold and silver resources. The company is primarily engaged in expanding its mining operations and conducting exploration programs to enhance its resource base.
Average Trading Volume: 160,954
Technical Sentiment Signal: Buy
Current Market Cap: C$98.99M
For detailed information about SM stock, go to TipRanks’ Stock Analysis page.