Silver North Upsizes Private Placement to C$10.6 Million to Fund Yukon Exploration

Alianza Minerals ( (TSE:SNAG) ) has shared an update.

Silver North Resources has further increased the size of its brokered private placement, arranged with Red Cloud Securities, boosting the maximum gross proceeds from C$7 million to approximately C$10.6 million on a best-efforts basis. The upsized offering comprises up to 5 million units at C$0.40 and over 15.3 million charity flow-through units at C$0.56, with an additional agent’s option of up to C$1 million, and the LIFE component is expected to be freely tradeable in Canada. Management says the financing, driven by strong investor demand and participation from a strategically important shareholder group, will fully fund two years of exploration and operating costs and enable larger, more cost-efficient drill programs at the Haldane silver project, while also supporting work on the Veronica and GDR properties and providing general working capital.

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, notably its Haldane silver project in Yukon, and additional properties including Veronica and GDR. The company targets exploration-stage development in Canada’s mining jurisdictions, aiming to advance high-potential silver and related mineral assets through systematic drilling and field programs.

Average Trading Volume: 217,669

Technical Sentiment Signal: Buy

Current Market Cap: C$40.16M

Learn more about SNAG stock on TipRanks’ Stock Analysis page.