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Silver Elephant Mining ( (TSE:ELEF) ) has provided an announcement.
Silver Elephant Mining Corp. has successfully closed the second and final tranche of its non-brokered private placement, raising gross proceeds of $44,000 through the sale of 220,000 units. Each unit consists of one common share and one share purchase warrant, allowing the holder to purchase an additional share at a set price for three years. The funds raised will be used for general corporate purposes, and the transaction involving John Lee, a director of the company, is considered a related party transaction.
Spark’s Take on TSE:ELEF Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELEF is a Underperform.
Silver Elephant Mining faces significant financial challenges with zero revenue and mounting losses, which heavily impact its overall stock score. Technical analysis shows some short-term stability but a longer-term bearish trend. Valuation concerns due to a negative P/E ratio and lack of dividends further weigh on the score. Mixed corporate events add complexity, with financial initiatives slightly balancing operational setbacks. Overall, the stock presents high risk with limited immediate upside.
To see Spark’s full report on TSE:ELEF stock, click here.
More about Silver Elephant Mining
Silver Elephant Mining Corp. is a mineral exploration company with a focus on gold and silver projects located in Bolivia.
Average Trading Volume: 64,752
Technical Sentiment Signal: Sell
Current Market Cap: C$9.5M
Find detailed analytics on ELEF stock on TipRanks’ Stock Analysis page.