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The latest announcement is out from Silver Hammer Mining ( (TSE:HAMR) ).
Silver Hammer Mining Corp. has closed a non-brokered private placement under the Listed Issuer Exemption, raising C$3.91 million through the issuance of over 39 million units priced at C$0.10 each. Each unit consists of one common share and a half warrant exercisable at C$0.15 for 36 months, with the company also paying cash finder’s fees and issuing finder’s warrants.
The fresh capital bolsters Silver Hammer’s balance sheet and will fund exploration at its Silver Strand and Fahey Group projects in Idaho and its Eliza and Silverton projects in Nevada, as well as general corporate purposes. Management says the financing positions the company to aggressively explore its portfolio of high-grade, drill-ready silver assets in key U.S. mining districts amid what it views as a robust silver market.
The most recent analyst rating on (TSE:HAMR) stock is a Sell with a C$0.09 price target. To see the full list of analyst forecasts on Silver Hammer Mining stock, see the TSE:HAMR Stock Forecast page.
Spark’s Take on TSE:HAMR Stock
According to Spark, TipRanks’ AI Analyst, TSE:HAMR is a Neutral.
The score is mainly constrained by weak financial performance (pre-revenue operations, ongoing losses, and negative free cash flow) despite a debt-free balance sheet and some recent improvement in losses/cash burn. Technical signals are also weak with the price below key moving averages and negative MACD, while valuation metrics are limited by a negative P/E and no dividend yield.
To see Spark’s full report on TSE:HAMR stock, click here.
More about Silver Hammer Mining
Silver Hammer Mining Corp. is a junior resource company focused on advancing past-producing high-grade silver projects in the United States. The company controls 100% of six previously producing silver mines across its Silver Strand project in Idaho and its Eliza and Silverton projects in Nevada, along with the Fahey Group Silver Project in Idaho, providing additional exposure to copper and gold.
Average Trading Volume: 636,621
Technical Sentiment Signal: Hold
Current Market Cap: C$9.52M
For detailed information about HAMR stock, go to TipRanks’ Stock Analysis page.