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Alianza Minerals ( (TSE:SNAG) ) has shared an update.
Silver North Resources has closed a non-brokered private placement of 6.43 million flow-through shares at $0.35 each, raising gross proceeds of $2.25 million to fund exploration at its Yukon silver projects. The financing will allow the company to start its 2026 drilling program early at the flagship Haldane Property and to follow up work at the Veronica silver property, with the proceeds to be directed toward eligible Canadian exploration expenses that qualify as flow-through mining expenditures, underscoring Silver North’s intent to maximize the 2026 field season while providing tax-advantaged exposure to investors; the deal also included finder fees, warrants and a small related-party participation that fell below thresholds requiring a formal valuation or minority shareholder approval.
Spark’s Take on TSE:SNAG Stock
According to Spark, TipRanks’ AI Analyst, TSE:SNAG is a Neutral.
Alianza Minerals is significantly challenged by financial weaknesses, including no revenue and continuous losses, overshadowing its debt-free balance sheet. Despite positive technical indicators, the poor valuation and reliance on external funding limit the stock’s overall attractiveness. Strategic efforts and project developments are crucial to improving its financial health and investor appeal.
To see Spark’s full report on TSE:SNAG stock, click here.
More about Alianza Minerals
Silver North Resources is a Canadian mineral exploration company focused on silver projects in Yukon and British Columbia. Its key assets include the 100%-owned Haldane Silver Project adjacent to Hecla Mining’s Keno Hill mine, the Tim Silver Project under option to Coeur Mining in the Silvertip/Midway district, and the nearby GDR project, with a strategy to expand its portfolio of silver properties in favourable jurisdictions. The company’s shares trade on the TSX Venture Exchange, the OTCQB in the United States and the Frankfurt Stock Exchange.
Average Trading Volume: 212,734
Technical Sentiment Signal: Buy
Current Market Cap: C$30.11M
Find detailed analytics on SNAG stock on TipRanks’ Stock Analysis page.