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Golden Tag Resources ( (TSE:SVRS) ) has issued an announcement.
Silver Storm Mining Ltd. has successfully drawn US$7.0 million from a Prepaid Offtake Financing Facility with Samsung C&T, which will support the rehabilitation of its La Parrilla Silver Mine Complex and general corporate purposes. This financial move is expected to enhance Silver Storm’s growth plans and strengthen its partnership with Samsung C&T, a leader in commodity trading, allowing Samsung the right to purchase 100% of the concentrates produced at La Parrilla for two years.
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 a company focused on advanced-stage silver projects in Durango, Mexico. It aims to restart its 100% owned La Parrilla Silver Mine Complex, which includes a 2,000 tpd mill and three underground mines. The company also holds a significant interest in the San Diego Project, one of the largest undeveloped silver assets in Mexico.
Average Trading Volume: 2,460,323
Technical Sentiment Signal: Buy
Current Market Cap: C$184.8M
For detailed information about SVRS stock, go to TipRanks’ Stock Analysis page.