Silver Storm Upsizes Private Placement to C$10 Million Amid Strong Demand

Golden Tag Resources ( (TSE:SVRS) ) just unveiled an announcement.

Silver Storm Mining Ltd., a company involved in mining operations, has announced an increase in its brokered private placement to raise up to C$10 million due to strong investor demand. The funds will be used for the rehabilitation of the La Parrilla processing facility and to support ongoing operations. Notably, Eric Sprott, a significant shareholder, has committed to participating in the offering, which highlights confidence in the company’s future prospects.

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

Average Trading Volume: 410,631

Technical Sentiment Signal: Sell

Current Market Cap: C$67.77M

See more data about SVRS stock on TipRanks’ Stock Analysis page.