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Silver One Resources ( (TSE:SVE) ) has shared an update.
Silver One Resources has launched a non-brokered private placement of up to 43.1 million units at $0.58 per unit to raise approximately $25 million, with each unit comprising one common share and a half warrant exercisable at $0.80 for three years. The financing, offered under prospectus exemptions in Canada (excluding Quebec) and other qualifying jurisdictions, will fund drilling, exploration, geophysics, metallurgical and environmental work, and a pre-feasibility study at the Candelaria Project, as well as mineral claim payments and general working capital, indicating a push to advance Candelaria toward potential development and reinforce the company’s broader exploration pipeline; closing is expected within about three weeks, subject to TSX Venture Exchange approval.
The most recent analyst rating on (TSE:SVE) stock is a Hold with a C$0.62 price target. To see the full list of analyst forecasts on Silver One Resources stock, see the TSE:SVE Stock Forecast page.
Spark’s Take on TSE:SVE Stock
According to Spark, TipRanks’ AI Analyst, TSE:SVE is a Neutral.
The score is held back primarily by pre-revenue financials (ongoing losses and cash burn) despite a low-debt balance sheet. Technical momentum is a meaningful positive with price above major moving averages, while valuation is constrained by negative earnings. Recent project-advancement news adds support but remains execution-dependent.
To see Spark’s full report on TSE:SVE stock, click here.
More about Silver One Resources
Silver One Resources is a Canadian-listed mining company focused on the exploration and development of silver projects in the U.S. West. Its flagship asset is the past-producing Candelaria Mine in Nevada, where it is evaluating both reprocessing of historic leach pads for potential near-term output and expansion of mineralization at depth and along strike. The company also holds the Cherokee silver-copper-gold project in Nevada and the high-grade Silver Phoenix silver prospect in Arizona’s “Arizona Silver Belt.”
Average Trading Volume: 416,765
Technical Sentiment Signal: Buy
Current Market Cap: C$177.3M
For a thorough assessment of SVE stock, go to TipRanks’ Stock Analysis page.