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The latest announcement is out from Silver Bullet Mines Corp ( (TSE:SBMI) ).
Silver Bullet Mines has released historical technical data relating to its recently acquired Columbia and Gold Queen mines in Gila County, Arizona, which lie roughly 30 miles from its Globe mill and support its hub-and-spoke operating strategy. The assets, historically owned by Phelps Dodge and producing mainly copper with by-product gold, silver, zinc and lead, are backed by anecdotal and pre–NI 43-101 data that the company uses for guidance but urges investors to treat with caution.
The company notes a 2018 technical presentation indicating past shipments grading 2–7% copper and notable gold values, while emphasizing that no compliant resource estimates exist and a Qualified Person has reviewed but not visited the sites. Silver Bullet also reported the resignation of director John MacKenzie, who is focusing on another mining venture, marking a board change as the company advances its Arizona growth strategy.
The most recent analyst rating on (TSE:SBMI) stock is a Hold with a C$0.21 price target. To see the full list of analyst forecasts on Silver Bullet Mines Corp stock, see the TSE:SBMI Stock Forecast page.
Spark’s Take on SBMI Stock
According to Spark, TipRanks’ AI Analyst, SBMI is a Neutral.
The score is held down primarily by weak financial performance (ongoing losses and heavy cash burn with financing/dilution risk) and only modest technical strength (negative MACD and below key moving averages). Positive corporate developments (offtake deal, first payments/shipments, and project progress) provide upside optionality, but do not yet offset the lack of demonstrated sustainable revenue and cash generation. Valuation is also difficult to support given negative earnings and no dividend.
To see Spark’s full report on SBMI stock, click here.
More about Silver Bullet Mines Corp
Silver Bullet Mines Corp. is a Canadian mining company focused on developing and operating precious and base metal projects, anchored by a wholly owned mill in Globe, Arizona. The company uses a hub-and-spoke model, sourcing mineralized material from nearby mines to feed the mill and optimize processing efficiency and regional scale.
Average Trading Volume: 207,598
Technical Sentiment Signal: Buy
Current Market Cap: C$30.98M
For an in-depth examination of SBMI stock, go to TipRanks’ Overview page.