Silver Storm Upsizes Private Placement to C$8 Million

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

Silver Storm Mining Ltd., a company listed on the TSX Venture Exchange, has announced an increase in its brokered private placement due to strong investor demand. The offering has been upsized from C$6,006,000 to C$8,008,000, with the proceeds intended for the rehabilitation of the La Parrilla processing facility and other operational needs. This move is expected to bolster the company’s financial position and support its ongoing operations, potentially enhancing its market presence.

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: 389,248

Technical Sentiment Signal: Sell

Current Market Cap: C$67.77M

Find detailed analytics on SVRS stock on TipRanks’ Stock Analysis page.