TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
The latest announcement is out from Golden Tag Resources ( (TSE:SVRS) ).
Silver Storm Mining Ltd. has announced a bought deal private placement agreement with Red Cloud Securities Inc. to raise C$13 million by selling 52 million units at C$0.25 per unit. The proceeds will be used to restart the La Parrilla Silver Mine Complex and for general corporate purposes. The offering is set to close on September 22, 2025, subject to regulatory approvals, and includes an over-allotment option for additional units.
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 engaged in advanced-stage silver projects located in Durango, Mexico. The company acquired the La Parrilla Silver Mine Complex, a notable past producing operation, in 2023.
Average Trading Volume: 2,571,200
Technical Sentiment Signal: Buy
Current Market Cap: C$183M
See more data about SVRS stock on TipRanks’ Stock Analysis page.