tiprankstipranks
Trending News
More News >

Silver Storm Secures Financing Proposals for La Parrilla Mine Restart

Story Highlights
Silver Storm Secures Financing Proposals for La Parrilla Mine Restart

Don’t Miss TipRanks’ Half-Year Sale

The latest update is out from Golden Tag Resources ( (TSE:SVRS) ).

Silver Storm Mining Ltd. has made significant progress in securing project financing for the restart of its La Parrilla Silver Mine Complex in Durango, Mexico. The company has received several non-binding proposals for multi-year lead and zinc concentrate offtake agreements and traditional debt financing, with facilities ranging from $15 to $17 million over 36 to 48 months. This financing is crucial for Silver Storm to resume operations at La Parrilla, potentially enhancing its position in the silver mining industry and impacting stakeholders positively.

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, which includes a 2,000 tpd mill and several mines, and the San Diego Project, one of the largest undeveloped silver assets in Mexico.

Average Trading Volume: 304,446

Technical Sentiment Signal: Buy

Current Market Cap: C$67.77M

See more insights into SVRS stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1