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Golden Tag Resources ( (TSE:SVRS) ) has shared an update.
Silver Storm Mining Ltd. announced an increase in its non-brokered private placement offering from C$2.6 million to C$4.004 million due to strong investor demand. The funds will be used for mine processing equipment, rehabilitation of the La Parrilla processing facility, and other operational needs, potentially enhancing the company’s operational capabilities and market position.
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
Silver Storm Mining Ltd. is involved in advanced-stage silver projects located in Durango, Mexico. The company acquired 100% of the La Parrilla Silver Mine Complex, which includes a 2,000 tpd mill and five underground mines.
Average Trading Volume: 1,335,530
Technical Sentiment Signal: Sell
Current Market Cap: C$77.33M
See more data about SVRS stock on TipRanks’ Stock Analysis page.