Southern Silver Secures C$6 Million in Private Placement for Project Expansion

Southern Silver Exploration ( (TSE:SSV) ) just unveiled an announcement.

Southern Silver Exploration Corp. announced the successful closing of a ‘bought deal’ private placement, raising C$6 million, which will be used to advance the Cerro Las Minitas project in Mexico and for general corporate purposes. The transaction, managed by Red Cloud Securities Inc., highlights the company’s strategic focus on enhancing its mineral exploration and development activities, potentially strengthening its market position and offering growth opportunities for stakeholders.

The most recent analyst rating on (TSE:SSV) stock is a Buy with a C$0.87 price target. To see the full list of analyst forecasts on Southern Silver Exploration stock, see the TSE:SSV Stock Forecast page.

Spark’s Take on TSE:SSV Stock

According to Spark, TipRanks’ AI Analyst, TSE:SSV is a Neutral.

Southern Silver Exploration shows significant financial weaknesses, with no revenue and persistent losses. The technical indicators are not favorable, reflecting a bearish trend. The company’s valuation metrics are unattractive due to its unprofitability. However, recent corporate events, including successful project advancements and strategic acquisitions, offer a glimmer of potential future growth, slightly improving the outlook.

To see Spark’s full report on TSE:SSV stock, click here.

More about Southern Silver Exploration

Southern Silver Exploration Corp. is an exploration and development company focused on discovering world-class mineral deposits, primarily through its 100% owned Cerro Las Minitas silver-lead-zinc project in Mexico’s Faja de Plata. The company also holds interests in the Nazas property in Mexico and the Oro porphyry copper-gold and Hermanas gold-silver vein projects in New Mexico, USA.

Average Trading Volume: 1,631,654

Technical Sentiment Signal: Buy

Current Market Cap: C$248M

Learn more about SSV stock on TipRanks’ Stock Analysis page.