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Golden Tag Resources ( (TSE:SVRS) ) has issued an update.
Silver Storm Mining Ltd. has announced a non-brokered private placement offering to raise up to C$2.6 million through the sale of 20,000,000 units at C$0.13 per unit. The proceeds will be used for mine processing equipment, rehabilitation of the La Parrilla processing facility, and ongoing operations. The offering reflects growing institutional interest and aims to strengthen the company’s liquidity base. Completion is subject to regulatory approvals, and the units will be available to purchasers in Canada and select international markets.
Spark’s Take on TSE:SVRS Stock
According to Spark, TipRanks’ AI Analyst, TSE:SVRS is a Underperform.
Golden Tag Resources faces significant financial challenges, typical of a pre-revenue mining exploration company. While technical indicators suggest a neutral outlook, the valuation remains unattractive due to the lack of profitability. The recent private placement announcement is a positive development, providing potential financial stability. However, overall risks remain high due to financial instability and lack of revenue.
To see Spark’s full report on TSE:SVRS stock, click here.
More about Golden Tag Resources
Silver Storm Mining Ltd. holds advanced-stage silver projects in Durango, Mexico. In 2023, the company acquired 100% of the La Parrilla Silver Mine Complex, a prolific past producing operation with a 2,000 tpd mill, five underground mines, and an open pit that collectively produced 34.3 million silver-equivalent ounces.
Average Trading Volume: 1,235,807
Technical Sentiment Signal: Sell
Current Market Cap: C$70.28M
Find detailed analytics on SVRS stock on TipRanks’ Stock Analysis page.