Silver Tiger Metals ( (TSE:SLVR) ) has shared an update.
Silver Tiger Metals Inc. has successfully closed a $15 million bought deal financing, selling 45,455,000 common shares at C$0.33 each. The proceeds will be used for exploration and development at the El Tigre Project in Mexico, as well as for working capital and general corporate purposes. This financing supports the company’s ongoing efforts to develop the El Tigre Project, which includes plans for both open pit and underground mining operations. The project has shown promising economic potential with a projected 10-year mine life and significant after-tax cash flow, positioning Silver Tiger as a competitive player in the mining industry.
Spark’s Take on TSE:SLVR Stock
According to Spark, TipRanks’ AI Analyst, TSE:SLVR is a Neutral.
Silver Tiger Metals’ overall score is impacted by significant financial challenges and a negative valuation. However, the recent financing and positive developments in the El Tigre Project provide potential for future growth. The technical analysis remains neutral, and the absence of earnings call data limits further evaluation.
To see Spark’s full report on TSE:SLVR stock, click here.
More about Silver Tiger Metals
Silver Tiger Metals Inc. is a Canadian company with over 27 years of experience in discovering, financing, and building large hydrothermal gold and silver mines in Mexico. The company owns the 28,414-hectare Historic El Tigre Mining District in Sonora, Mexico, and is committed to principled environmental, social, and governance practices.
YTD Price Performance: 40.43%
Average Trading Volume: 412,065
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$120.5M
Learn more about SLVR stock on TipRanks’ Stock Analysis page.