Alianza Minerals ( (TSE:SNAG) ) has provided an update.
Silver North Resources Ltd. has successfully closed a non-brokered private placement, raising $1,350,000 through the sale of 13.5 million units. The funds will be used for working capital and advancing the Haldane Silver Project, where recent drilling has discovered promising silver mineralized veins. Additionally, the Tim Silver Project is under an option agreement with Coeur Mining Inc., which can earn a majority interest by investing in exploration and feasibility studies.
Spark’s Take on TSE:SNAG Stock
According to Spark, TipRanks’ AI Analyst, TSE:SNAG is a Underperform.
Alianza Minerals’ overall stock score is low due to severe financial challenges, including non-existent revenue and continuous losses, which overshadow its strong balance sheet. While technical indicators show some positive momentum and recent corporate events suggest strategic efforts for growth, the lack of profitability and unattractive valuation keep the score low. Continued focus on strategic improvements and successful project developments are crucial for enhancing 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 Ltd. is a mining company focused on silver exploration, with primary assets including the Haldane Silver Project in Yukon Territory and the Tim Silver Project under option to Coeur Mining Inc. The company is listed on the TSX Venture Exchange, OTCQB market in the US, and the Frankfurt Stock Exchange.
YTD Price Performance: 11.11%
Average Trading Volume: 51,917
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$4.77M
For detailed information about SNAG stock, go to TipRanks’ Stock Analysis page.