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Quetzal Copper Corp ( (TSE:SICO) ) has shared an announcement.
Silverco Mining Ltd. has arranged a $40 million bought-deal financing with Velocity Capital Partners and a syndicate of underwriters, selling 3.2 million common shares at $12.50 each under Canada’s listed issuer financing exemption, with an additional option for underwriters to purchase up to 480,000 more shares for a further $6 million. The proceeds will fund exploration, evaluation and restart work at the company’s Cusi Project in Mexico, as well as general corporate purposes and working capital, positioning Silverco to advance a key past-producing asset; the deal, which is subject to TSX Venture Exchange and regulatory approvals, underscores continued capital markets support for junior miners with established infrastructure and near-term development potential.
More about Quetzal Copper Corp
Silverco Mining Ltd. is a Canadian mining company focused on the 100%-owned, 11,665-hectare Cusi Project in Chihuahua State, Mexico, located in the prolific Sierra Madre Occidental gold-silver belt. The past-producing underground silver-lead-zinc-gold operation benefits from a 1,200 tonne-per-day mill with tailings capacity, paved highway access, grid power connection and multiple historical polymetallic mines with several identified exploration targets, including extensions of a newly recognized mineralized block and opportunities from claim consolidation.
Average Trading Volume: 112,518
Technical Sentiment Signal: Buy
See more data about SICO stock on TipRanks’ Stock Analysis page.