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An update from Silver Elephant Mining ( (TSE:ELEF) ) is now available.
Silver Elephant Mining Corp. has announced a non-brokered private placement to raise $625,000 through the issuance of 2.5 million units at $0.25 each, with each unit comprising one common share and one three-year warrant exercisable at $0.32. Certain directors and officers plan to subscribe for up to 550,000 units, a related-party transaction for which the company intends to rely on exemptions from minority approval and valuation requirements under Canadian securities rules. The financing, which remains subject to Toronto Stock Exchange approval and carries a standard four-month-plus-one-day hold period, is earmarked primarily for directors’ fees and general working capital, underscoring the junior explorer’s ongoing need to fund corporate overhead while it continues to advance its Bolivian 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 advancing a silver-lead-zinc project in Bolivia, positioning itself within the precious and base metals segment of the mining sector.
Average Trading Volume: 134,126
Technical Sentiment Signal: Hold
Current Market Cap: C$16.68M
Learn more about ELEF stock on TipRanks’ Stock Analysis page.