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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.