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The latest announcement is out from Golden Tag Resources ( (TSE:SVRS) ).
Silver Storm Mining Ltd. has successfully closed the final tranche of its non-brokered private placement, raising a total of C$4,004,000. The proceeds will be used for mine processing flotation cells, rehabilitation of the La Parrilla processing facility, ordering long lead items, and funding ongoing operations for the next year. This financial move is expected to bolster the company’s operational capabilities and enhance its market positioning in the silver mining industry.
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. is a company focused on advanced-stage silver projects in Durango, Mexico. It owns the La Parrilla Silver Mine Complex, a past producing operation with a 2,000 tpd mill, five underground mines, and an open pit. The company also holds the San Diego Project, one of the largest undeveloped silver assets in Mexico.
Average Trading Volume: 1,440,941
Technical Sentiment Signal: Sell
Current Market Cap: C$77.33M
See more insights into SVRS stock on TipRanks’ Stock Analysis page.