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An update from Alianza Minerals ( (TSE:SNAG) ) is now available.
Silver North Resources has closed a brokered private placement, raising gross proceeds of about C$11.6 million through the sale of units and charity flow-through units priced at C$0.40 and C$0.56 respectively. The financing, led by Red Cloud Securities, included warrants exercisable to 2029 and remains subject to final TSX Venture Exchange approval.
The company plans to deploy the funds to exploration and related work at its Haldane, Veronica and GDR projects in Yukon, as well as for working capital and general corporate purposes. Proceeds from the charity flow-through units will be directed to qualifying Canadian exploration expenses, reinforcing Silver North’s capacity to advance its Yukon portfolio while offering tax-advantaged exposure to investors under Canada’s flow-through regime.
The most recent analyst rating on (TSE:SNAG) stock is a Hold with a C$0.27 price target. To see the full list of analyst forecasts on Alianza Minerals stock, see the TSE:SNAG Stock Forecast page.
Spark’s Take on TSE:SNAG Stock
According to Spark, TipRanks’ AI Analyst, TSE:SNAG is a Neutral.
The score is primarily driven by weak financial performance (no revenue, recurring losses, and negative cash flow), with bearish technical signals reinforcing the risk. The debt-free balance sheet provides some stability but is not enough to offset the lack of profitability and cash generation.
To see Spark’s full report on TSE:SNAG stock, click here.
More about Alianza Minerals
Silver North Resources is a Vancouver-based mineral exploration company focused on silver and related metals. The company’s key assets include the Haldane and Veronica properties in Yukon Territory and the GDR project, where it advances exploration programs targeting Canadian precious and base metal deposits.
Average Trading Volume: 308,366
Technical Sentiment Signal: Buy
Current Market Cap: C$26.77M
For detailed information about SNAG stock, go to TipRanks’ Stock Analysis page.