Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
An announcement from Silver Elephant Mining ( (TSE:ELEF) ) is now available.
Silver Elephant Mining Corp. has increased its previously announced non-brokered private placement to a total of up to 3.3 million units at $0.25 per unit, for potential gross proceeds of $825,000. Each unit comprises one common share and one warrant exercisable at $0.32 for three years, with finder’s fees of up to 7% in finder’s units also payable. The funds are earmarked primarily for directors’ fees and general working capital, with the financing subject to a four-month-plus-one-day hold period and final approval from the Toronto Stock Exchange. The company also reiterated that it is continuing efforts to collect amounts owed by Andean Precious Metals Corp. under an arbitration award, highlighting ongoing attempts to strengthen its financial position while advancing its Bolivian silver-lead-zinc project.
The most recent analyst rating on (TSE:ELEF) stock is a Hold with a C$0.29 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 sector with an emphasis on silver-focused assets in South America.
Average Trading Volume: 156,891
Technical Sentiment Signal: Hold
Current Market Cap: C$15.33M
For a thorough assessment of ELEF stock, go to TipRanks’ Stock Analysis page.