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The latest update is out from Southern Silver Exploration ( (TSE:SSV) ).
Southern Silver Exploration Corp. has announced a bought deal private placement agreement with Red Cloud Securities Inc. to raise approximately C$8 million. The proceeds will be used to advance the Cerro Las Minitas project in Mexico and for general corporate purposes. This financing move aims to strengthen Southern Silver’s position in the mineral exploration industry by enhancing its project development capabilities.
The most recent analyst rating on (TSE:SSV) stock is a Buy with a C$0.60 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, either directly or through joint ventures, in major jurisdictions. The company emphasizes its 100% owned Cerro Las Minitas silver-lead-zinc project in Mexico’s Faja de Plata, known for hosting multiple world-class mineral deposits.
Average Trading Volume: 327,823
Technical Sentiment Signal: Buy
Current Market Cap: C$94.06M
For detailed information about SSV stock, go to TipRanks’ Stock Analysis page.