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The latest announcement is out from Golden Tag Resources ( (TSE:SVRS) ).
Silver Storm Mining Ltd. has completed the drawdown of a US$7.0 million Prepaid Offtake Facility with Samsung C&T, which will provide financial flexibility for the company’s growth plans. The funds will be used for rehabilitation activities at the La Parrilla Silver Mine Complex and for general corporate purposes. This agreement strengthens Silver Storm’s partnership with Samsung C&T and grants Samsung the right to purchase 100% of the Lead-Silver and Zinc 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 is committed to the potential near-term restart of its La Parrilla Silver Mine Complex, which includes a 2,000 tpd mill and three underground mines. The company also holds a 100% 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
See more insights into SVRS stock on TipRanks’ Stock Analysis page.