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The latest update is out from Silver Elephant Mining ( (TSE:ELEF) ).
Silver Elephant Mining Corp. has closed the first tranche of its previously announced non-brokered private placement, raising gross proceeds of $565,000 through the issuance of 2,260,000 units priced at $0.25, each comprising one common share and a three-year warrant exercisable at $0.32. The financing, which included participation by a 10% insider and a company officer under related-party transaction rules, also involved the issuance of finder’s units and is subject to a four-month-plus-one-day hold period, with proceeds earmarked for general corporate purposes and a second and final tranche expected to close later in January pending regulatory approval, providing additional working capital as the company advances its Bolivian silver-lead-zinc project.
The most recent analyst rating on (TSE:ELEF) stock is a Hold with a C$0.31 price target. To see the full list of analyst forecasts on Silver Elephant Mining stock, see the TSE:ELEF Stock Forecast page.
Spark’s Take on TSE:ELEF Stock
According to Spark, TipRanks’ AI Analyst, TSE:ELEF is a Neutral.
The score is held back primarily by weak financial performance (no revenue, ongoing losses and cash burn, and negative equity). Technicals are relatively supportive with price above key moving averages and a positive MACD, while corporate updates show operational milestones and continued access to small financings, offset by legal/arbitration risk. Valuation is constrained by negative earnings and no stated dividend yield.
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 focused on developing its silver-lead-zinc project in Bolivia, positioning itself within the precious and base metals mining sector.
Average Trading Volume: 126,988
Technical Sentiment Signal: Hold
Current Market Cap: C$17.75M
Find detailed analytics on ELEF stock on TipRanks’ Stock Analysis page.